Steel makers in both EUUS markets brought in a superb balance between demand and supply

摘要

It could be a wild guess when the steel prices will start climbing down globally. The prices of hot rolled (HR) coils on the world export market on a fob basis remains at above USD600 per ton, if not more. These are the levels the industry perhaps had never seen earlier on a wider level. The high prices have been on account of well known factors like strong demand for steel across the world, including the US and the EU where the domestic prices are at astronomical levels of about USD680 and USD630 per ton for HR coils. Merging the world's two top consolidators - Mittal and Arcelor - could in fact slow the process down. Many steel companies around the world have taken steps to deter hostile takeover bids from Mittal or those keen to imitate it. The Mittal Steel merger with Arcelor is closed. The new organization will make almost 120 million ton (MT) per year of crude steel. Many industry executives have said they expect to see the emergence of several companies of a similar size as the process of consolidation moves forward.