Steel prices at the beginning of 2020 are relatively stable when compared to 2019 despite a momentary spike in December. Given the generally positive outlook for steel demand, and an expected slowing of Chinese steel production, prices could be set to rise in 2020. But as Remeithi points out, any projection for the industry rests on shaky ground.
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Steel 2016-2021 Data 2022-2023 Forecast Price Shanghai steel futures were trading around the 4,700 yuan a tonne level in the aftermath of production curbs after top steelmaking city Tangshan pledged to cut emissions by 50% during days of heavy pollution. Still, the fundamentals have not changed, with strong domestic demand, mainly due to Chinas massive spending on infrastructure construction, expected to push prices higher.
Scrap metal prices are constantly changing so the iScrap App National Prices is a great resource for you to see the trend of where scrap prices are heading. Depending on the different metals markets, some metals may be on the upward trend while others are on the downward trend.
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