1/10/2024, 5:42:02 pm

Steel storms: Wild cyclical whiplashes

The Financial Times recently reported that European steelmakers have urged trade officials to address the surge in Chinese steel exports, which have driven European prices below production costs. China, despite curtailing steel production since 2015, is on track to export over 100 million tonnes this year, the highest since 2016.Year-to-date, `flat steel' prices (HRC, in $) have dropped 21 perc...