Steel prices have been hovering around 3,620 Yuan/MT in October, marginally above September’s three-month low of 3,607 Yuan/MT, pressured by weak demand from European mills amid a global drop in car sales. Still, prices are expected to recover later this year amid continued robust demand from the construction and manufacturing industry in China.
Historically, Steel reached an all time high of 4960 in October of 2018. Steel - data, forecasts, historical chart - was last updated on October of 2020.
Steel is expected to trade at 3395.35 Yuan/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2776.26 in 12 months time.