Monday, March 07, 2005
Steel price set to fall as demand in China slows
FT.com (subscription)
World steel prices are poised to fall from this summer in their first sustained drop for more than three years, according to Bruno Bolfo, chairman and owner of Duferco, the world's largest independent steel trader.
Mr Bolfo's views carry weight in the global steel sector because of his broad view of demand and supply patterns. If he is correct the sector may suffer loss in revenues after a spectacular increase in profits over the past two years.
World steel prices are poised to fall from this summer in their first sustained drop for more than three years, according to Bruno Bolfo, chairman and owner of Duferco, the world's largest independent steel trader.
Mr Bolfo's views carry weight in the global steel sector because of his broad view of demand and supply patterns. If he is correct the sector may suffer loss in revenues after a spectacular increase in profits over the past two years.
