The Steel & Tube Procurement Update provides insights into the drivers of steel pricing in the current environment.
2024 has been a difficult year due to low construction and manufacturing activity, tightening monetary policies, and growing geopolitical uncertainty leading to continued volatility in commodity markets. These conditions are likely to prolong the “bottoming” of many product price cycles. A lot depends on China which is the world’s largest steel and metal producer and consumer. While the impact of the Red Sea crisis continues to maintain freight rates at elevated levels.
Read on to understand how each product market has a unique set of circumstances influencing the timing of an upward inflection in price cycles and what to expect in steel and metal markets in 2025, for what is shaping up to be an “interesting” year.
For the information you and your business need, explore the latest update.