Steel Prices seen declining in H2 on glut in china

Print this page Posted on : 03-20-2007 by recycleinme.com

Steel was beginning to collect rust in the market in the market. US steel inventories are near a high record, and a glut in china, which makes 30 percent of the worlds metal, it cause prices to fall by the second half, according to UBSAG Europe’s largest bank which cut its forecasts last month. Zurich-based credit Suisse group says the risk of drop is mounting.

Source : Business Line