Steel prices have fallen substantially across the globe in 2014 and are unlikely to post major recovery in coming months
While Chinese domestic steel prices crashed by about 25-30%, the fall in other major countries like US, India and Europe was lesser than 10%.
However, the economic slowdown in China, Europe, and Japan led to higher steel exports from these countries depressing prices all over
The factors that led to a correction in steel prices are still there. In fact the malaise has deepened. There doesn’t appear to be a quick fix to China’s slowdown. Also, Europe isn’t returning to better times anytime soon.
Thus Steel prices are expected to be subdued, at least for the first half of 2015.
Zhejiang Yaang Pipe Industry Co., Limited