STEEL PRICES REACHED RECORD HIGHS
Looking further out into 2018, it is difficult to see how the Chinese steel market can be any stronger than last year. However, the market thought the same thing a year ago, and look what happened. Steel prices reached record highs, and crude steel production was much stronger than expected.
Well, January is racing away and it’s proving difficult to get a handle on ferrous markets in China. We’ve already seen plenty of volatility in steel, iron ore and coking coal prices. Market participants in China are as unclear as the rest of us about the near-term price direction. But in general, they are tending towards the bearish side – as can be seen in the low reading in the latest S&P Global Platts China Steel Sentiment Index.
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Post time: Jun-01-2018