Data monitor: Pressure on steel prices is likely to persist

February 4, 2019 2:49 AM

Softer steel fundamentals are likely to weigh on regional and, thus, domestic prices.

Domestic steel demand has grown 8.4% YTD Nov. (Representational photo/Reuters)

While domestic steel demand has grown 8.4% YTD Nov, rising threat of imports due to falling regional steel prices, weakening autos demand and de-stocking has led to ~11% correction in domestic HRC prices since November. Softer steel fundamentals are likely to weigh on regional and, thus, domestic prices, Jefferies has said.

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