Analysis of welded tube and pipe markets across the globe
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How to stop further declines in steel prices? We are possibly too far gone. There is no better indicator to assess the health of the steel markets than China, and when producers from China begin to drop prices due to weak demand, the rest of the market must sit up and listen, and most importantly react. Inventory levels swell as demand fallsInventory levels in China for plate spiked to new highs of 115,560 tonnes in March, dropped to 112,000 tonnes last week, an increase of 37% year-on-year. This is despite the rapid decrease in prices for medium plate which slumped 20% over the same time frame to ¥4377/tonne ($692). The Chinese shipbuilding industry has been in a slump for the last three years as order numbers fall; new to undertake...
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