July 2012 | Steel Tracker
North America, Japan and South Korea regional data focus: 5 July 2012
Prices across North America have been in a long-term downtrend and we believe they have not established a floor.
North America
Supply/Demand Fundamentals: While production levels for both EAF and BOF producers are now back at 2008 levels the same cannot be said for prices. Production levels are in no way reflective of demand levels and are unsustainable in MBR’s opinion.Price Implications: Prices across North America have been in a long-term downtrend and we believe they have not established a floor. We have seen price declines of almost $40/tonne in HRC over the past three weeks and with the summer slowdown we...
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