World steel prices set to peak

Print this page Posted on : 08-29-2008 by recycleinme.com

Global steel prices will peak this year because of weakening consumption of the metal in North America and the European Union as economies and building demand slow, industry consultant MEPS (International) Ltd. said. ''Low construction activity is expected to result in continued cautious buying by service centres,'' MEPS, based in Sheffield, England, said in a report published on its Web site. ''Transaction figures are expected to continue climbing in September due to higher raw material costs. However, we predict that the latest increases will signal the peak.''

Source : Business Line