Global steel prices are rising, which should reassure lending institutions that borrowers are on track for repayment and help producers attract more resources for investment.
Worldwide HRC prices rose from $ 470 per tonne in April 2017 to $ 580 per tonne in August 2017. The driving force behind this phenomenon is steel production in China, which consumption increased during the first 7 months of the current fiscal year.
Manufacturing PMIs for Japan and the US for August 2017 stood at 49.6 and 52.8, respectively, better than in previous months. Strong demand and employment growth in the eurozone led to an increase in PMI from 56.6 in July to 57.4 in August 2017.
The August 2017 PMI values for Germany, Austria and the Netherlands are the best in six and a half years. This is good news for India's steel exports, which rose 54% between April and August 2017. These are positive signals for the corporate sectors in India to invest in infrastructure, construction and manufacturing. Given that the country is striving to become the world's second largest steel producer.
Steelworkers want to increase investment as prices rise
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Azovpromstal® 14 September 2017 г. 10:26 |
