Global steel long-term outlook Q4 2016
In China, stronger than expected manufacturing activity, accelerated capacity closures, soaring raw material costs and speculation have all led to a surge in steel prices that has had an impact worldwide. In Europe and the US this has shrunk the relative regional price premia and combined with aggressive trade defences resulted in easing imports. While this has allowed for some increase in domestic steel prices, ongoing destocking has prevented any noteworthy recovery in domestic steel shipments and production. As part of this update we discuss what to expect next across the key regions.