Over the past twelve months, international steel prices have predominantly been on a downward trend. The MEPS Global All Products Composite figure declined, in the second half of 2012, to an annual low of $US711 per tonne in November before rising just $US 25 per tonne over the next three months. From the peak in February this year, transaction values fell almost $US60 pertonne to reach a forty-one month low in July.
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