The Steel & Tube Procurement Update provides insights into the drivers of steel pricing in the current environment.
The combined factors of stubbornly high costs and lower market demand have brought prices down to levels which many industry participants cannot sustain. Globally, inflationary pressures are affecting the balance of volume and margin for mills, heightening the possibility of future price increases.
What trends will eventuate in the new year will likely be determined by the economies of scale – China and India. With the world macroeconomic environment remaining challenging, the price outlook for steel and metals in 2024 is uncertain, and price volatility will remain a constant.
For the information you and your business need, explore the latest update.