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Experts wait for steel price set to rise by up to 66%

     Steel price are set to jump by up to 66 per cent this year, steel experts forecast. According to analysts, steel price can rise up to 970 US dollars a ton by December 2011, said The Financial Time.  If this turns out to be correct, the rise in steel prices during the last years will be the second-biggest jump. The largest increase was the 70% rise in 2004.

Rob Beddous, chief executive of Hatch Corporate Finance, said he envisages steel prices rise is a direct consequence of rising cost of raw materials and also companies’ wish to get profit against the recovery of the world economy from financial crisis 2008-2009.
Michael Shillaker, Credit Suisse analyst, predicted a rise in steel prices of 41 per cent by the end of the year 2011.
According to the leaders of Indian steel manufactures Tata Steel, Essar и JSW, steel prices will raise of 25 per cent this year.
In a set of forecasts provided for the Financial Times took part 16 steel experts including chief executives of steel-casting industry.
Global steel production jumps 25% in 2010
Three years of decrease in crude steel production have passed. According to ISSF (International Stainless Steel Forum, Brussels), in 2010 global crude steel production peaked at 30,7 million tonnes, on 24,9% more compared with one year before, reported The Citizen Daily.
Asian produced 65% from the total volume of crude steel production in the world. Such growth for the region, without China, is about 21%, year result 8.6 million tonnes. On the second place are crude steel manufactures in west Europe. They produced 7.9 million tonnes of crude steel (up to 22.1 per cent compared with 2009).
In 2011 manufactures increase volumes, as expect ISSF. It is forecasted that metallurgies will produce 33 million tonnes.
15.06.2011 14:16

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