UNITED STATES December 04 2013 10:45 AM
NEW YORK (Scrap Register): Global Steel prices are likely to grow by approximately six percent over the next five months, said MEPS International in a research note.
According to MEPS, The gains are likely to be uneven across the world. The most significant increases are likely to develop in the European Union, after a difficult period for the mills for much of 2013.
Slow but steady price advances are predicted in the main steel producing nations in Asia. In North America, the upturn, which started in the second half of this year, is expected to extend into the early months of 2014.
The MEPS – Global Steel Price is a composite figure, calculated from researched steel selling figures for the nine most popular rolled steel products sold in the top eleven producing nations, covering 75 percent of global output.