Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.
The price increases since early October have stunned market watchers with their speed and magnitude, leading many market veterans to compare it to a similar price climb in 2008 - and the precipitous drop that followed itOne possible sign of a potential correction is market speculation about contract cancellations and non-fulfilment of contracts by sellers, industry sources...