Steel prices move higher in most developing markets, gradual upturn in world steel prices over next 12 months

摘要

Global Steel production in the first seven months of this year was 664 million tonnes - down almost 20 percent on the equivalent period in 2008, according to World Steel Association. A marked upturn was recorded in July, down by just 11 percent on the previous year at 106 million tonnes. After peaking in August 2008 at g '80860 per tonne, the MEPS EU average flat products' price collapsed to g 420 per tonne in May this year. This was the lowest figure for more than five years. The weakening economic climate pushed end-user demand to extremely low levels. Distributors and steel processing companies were forced to reduce inventories. Weak market conditions led to continuous reductions in steel prices into the second quarter of this year.