Q1 2022 long steel outlook satisfactory despite market challenges - Irepas

The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for global long steel markets remain good and indicate a satisfactory first quarter of 2022.

The global long steel products market is stable at the moment and should remain so in the next quarter despite many uncertainties including power shortages and costs, logistical challenges, the Evergrande case in China and the United States-European Union deal, according to the association's November 8 report.
"Regional demand is strong for long products and raw materials. Overall demand is expected to remain good in 2022. Stocks in the EU have been replenished and demand is back to normal and so is supply. This situation will prevail throughout 2022 as investments are popping up all over the place. Moreover, it seems like China is going to keep its promise to limit steel production to last year's level," the association said.

In January-October 2021, China imported a total of 934.6 million tonnes of iron ore, down by 4.2% from the corresponding period in 2020, according to China's National Bureau...

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