Global steel prices were likely to soften further at the end of 2021 because of lower raw material prices and uncertain market sentiment, panelists said on Monday November 15 during Fastmarkets' International Ferro-alloys Conference in Prague.
In the middle of 2021, global steel prices reached a level not seen since the global financial crisis in 2008, after which there was a long-lasting downtrend.The quarterly average for Fastmarkets' steel hot-rolled coil index, export, fob main port China - a strong indicator of global steel prices - was $912.82 per tonne in July-September 2021. That was the highest quarterly average seen in the market since the corresponding quarter in 2008. On November 17, however, the index had fallen to $776.63 per tonne fob, a level not seen...