The international demand for steel is likely to slip by 5 percent in 2009 due to the intensified economic recession.
The international demand for steel is likely to slip by 5 percent in 2009 due to the intensified economic recession.
According to Peter Marcus, the managing partner of World Steel Dynamics (WSD), the global apparent steel demand will be down by 3 percent in 2008, and the new orders for steel in all regions of the world have been declined.
Moreover, the consumers tend to delay purchases of homes and cars because of the global downturn, which will make the steel prices down.
Besides, prices of iron ore may fall by 30 percent in the coming year and coking coal may drop to half as compared to its current value.
SOURCE: YIEH.COM