OUTLOOK: 'A year of rebound' for steel markets, Irepas says

The prospects for the global long steel market in 2021 remain rather optimistic despite some fluctuations, the International Rebar Producers & Exporters Association (Irepas) said on Wednesday February 10.

"2021 looks very likely to be a year of rebound, a year of multilateral boosts to the global resurrection, with less political uncertainty. It is highly likely that demand will be good this year," Irepas said.
China
China will be a significant factor with regards to the prospects for 2021, according to the association.
"It has been producing more and may export more, and so future price hikes may be moderate compared to December 2020. To date, what has been offered by Chinese exporters has been somewhat confusing and has made people worried," Irepas said.
Chinese crude steel output surged by 5.8% in 2020 to 1.05 billion tonnes against 995,756 million tonnes in 2019, according to the World Steel Association.

In December, China exported 4.85 million tonnes of finished steel, up 3.5% year on year and 10.2% month on month, according to Eurofer. That brought China's exports...

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