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Steel2016-2020 Data | 2021-2022 Forecast

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2020/09/02 10:39
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Steel2016-2020 Data | 2021-2022 Forecast

 

Steel prices in August have been hovering around 3,750 Yuan/MT, below July’s six-month high of 3,800 Yuan/MT, but still supported by stronger demand from China, the world’s largest steelmaker, after the economy opened up following months of virus-induced lockdown. Steel demand from the construction and manufacturing industry in China has strengthened, as infrastructure investment has accelerated on the recent uptick in industrial activity.

 

Steel is expected to trade at 3511.30 Yuan/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2871.07 in 12 months time.

 

Steel Rebar is mostly traded on the Shanghai Futures Exchange and London Metal Exchange. The standard future contract is 10 tons. Steel is one of the world’s most important materials used in construction, cars and all sorts of machines and appliances. By far the biggest producer of crude steel is China, followed by European Union, Japan, United States, India, Russia and South Korea. The steel prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our steel prices are intended to provide you with a reference only, rather than as a basis for making trading decisions.