Bulk steel alloys short-term outlook July 2022
Following the removal of prolonged lockdowns restrictions across much of China by June 2022, the country’s economy has entered a phase of recovery. Despite this, consumer and investment confidence remain weak as the risk of further lockdowns remains in place. In Europe, sanctions imposed as a result of the Ukraine-Russia crisis are likely to tighten hydrocarbon balances further providing additional upward support to energy prices. Despite ongoing elevated costs, weaker demand has for the meantime, proven to be more decisive in driving the trajectory of prices in bulk alloy markets.