MEPS Forecasts Steel Price Upturn in 2014

Commodities , Metals , Steel Aug 29, 2013 No Comments

SteelThe annual average Global All Products Composite steel price is predicted to increase approximately 4 percent in 2014, compared with the equivalent figure in 2013. This steel price rise would bring to an end two years of consecutive declines.

Selling figures in the North American strip mill market, which have been under negative pressure all year, have moved up due to a combination of tight availability and low steel inventories. Chinese prices have escalated, driven by high iron ore costs and an improvement in sentiment.

A number of European steelmakers have announced hikes to their list prices. Consequently, MEPS believes that modest advances in steel market values will be recorded in the near term.

via Steel industry news from MEPS international ltd.

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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