Steel prices to stay low for next 3 to 4 years: Alacero

Published: Jun 29, 2015 09:16

Save

Low steel prices will remain for the next 3 to 4 years due to oversupply of 450 million tons in steel market, most of it comes from China.

SANTIAGO (Scrap Register): Low steel prices will remain for the next 3 to 4 years due to oversupply of 450 million tons in steel market, most of it comes from China, said Rafael Rubio, general director of Latin America Steel Institute (Alacero).

According to data of Alacero, 48% of global steel production belongs to China.

Rubio said the average price of China's steel in Latin American market was $944/ton in 2011, it dropped to $658/ton in 2014 and so far this year reached $601/ton, which means a significant drop of 36% in only 4 years.

steel price steel price forecast Alacero

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn