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Fitch: us trade protectionism further depresses global steel prices

iconSep 19, 2018 09:22
Source:SMM

SMM, Sept. 19: Fitch (Fitch) said the rise of protectionism in the steel industry led by the United States will bring down steel prices in the next five years. Global growth in steel production and consumption will slow in 2018 and 2019, the macro-research company said on Tuesday. The trade deficit in the global steel market narrowed to 7.4 million tons this year. Market tensions have eased as Chinese demand slows, mainly due to the construction industry. It is estimated that China accounted for 51.6 per cent of global steel production in 2018 and will fall to 48.7 per cent in 2027. The company also said that "as demand from the construction, automotive and infrastructure industries accelerates, India will become a" bright spot "in global steel production growth.

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