Can the Steel Market Breathe a Sigh of Relief This Year?
2/9/2023
Source: Portfolio.hu
February 9, 2023, 09:00 AM
From August to the end of last year, the steel market continued its decline in both consumption volume and prices. Due to the general uncertainty surrounding the economy, all players held back, and inventory levels were quite high. During this period, traders tried to sell off these quantities, while manufacturers reduced their output. The latter attempted to slow down the price decrease.
Prices Fell
This was successful in the first half of autumn, in September and October, but in November and December, another price drop of approximately 200 euros occurred.
– said Roland Furda, Steel Trading and Manufacturing Director of Épduferr Nyrt., in an interview with Portfolio. In response, large trading companies started placing orders again, as they felt that prices had reached their lowest point – he added.
The continuation of the interview and the full article can be read HERE.