voda schreef op 23 november 2021 15:00:
Steel prices could rise 'much higher' in coming years, Indian steelmaker says
Nov. 22, 2021 6:54 PM ET United States Steel Corporation (X), NUE,STLD,TMSTCLF, RS, MT,SLX By: Carl Surran, SA News
Industrial background. Big size steel coil stored inside industrial warehouse, blue toned image.
herraez/iStock via Getty Images
Steel prices could climb "much higher" over the next decade compared with the previous decade, Tata Steel CEO T.V. Narendran tells CNBC.
The long-term average price for hot-rolled coil steel over the coming years likely will exceed $600/metric ton, after averaging $400-$450/mt in the last 7-8 years, Narendran says, noting prices were $750/mt in China and $850/mt in southeast Asia on Friday.
China's steel exports have been cut in half to ~60M tons/year and could fall further as the country pursues its net-zero carbon emissions goals, while steel demand is not being driven by China for "the first time in many years," as growth in steel consumption this year will come from countries other than China, according to the Tata Steel head.
Steel names rose across the board in today's trading: TMST +13.1%, STLD +6.2%, NUE +6%, X +4.3%, CLF +3%, RS +1.4%, MT +0.5%.
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