Steel prices rise for the third month in a row

For the third month in a row, March saw a slow rise in prices on the global steel market. This is the result of a gradual improvement in demand in most markets and a decline in steel production.

In February, global steel production fell 3.3 percent and China's 4 percent. Chinese production may fall even more in April because with the flower show in Tangszan province, which is one of the regions with the highest concentration of heavy industry in the country, provincial authorities want to close half of the local factories this time to reduce pollution. ...

In the European Union, February production was 6.3 percent less than a year earlier. Production in Germany fell 4.3 percent. Huge losses occurred in the British market, where production was limited already last year. The first increase in 14 months was shown by the Americans, who believe that this is the result of anti-dumping duties on flat products from several countries.

There is also a slight increase in prices and a slight increase in demand. The recovery in stocks after the Lunar New Year in China has led to a slight increase in prices in the domestic market. A slight increase is also occurring in Europe. However, you shouldn't count on strong growth, because even if steel production falls and producers reduce production capacity, the scale of overproduction in the world is still very high, and demand will not grow on a large scale this year. Ultimately, this will keep steel prices low as at the end of last year, world steel prices fell to their lowest level in more than 10 years.