London, 10 October 2013
MEPS International believe that Asian steel prices are expected to bottom out in 2013. Restocking programmes by many customers are likely to boost steelmaker order books at the start of 2014. Raw material costs are likely to move upwards around this time. Consequently, we forecast that steel prices will increase in the first half of next year.
The continued economic recovery across the world should help to boost demand for both steel goods and finished consumer products manufactured in Asia over the coming years. This is likely to reduce oversupply and support further advances in steel selling figures in 2015 and 2016.