According to the latest sentiment survey by S&P Global Platts, the mood on the US steel market was very stable into December 2020. The participants in the survey expect higher steel and raw material prices in the coming weeks. In addition, production is expected to rise and inventories to fall.
US steel prices must continue to rise
All sectors are currently experiencing a severe shortage of supply. Metallic raw materials and long products are currently in short supply. In addition, the warehouses are empty. According to market participants, the strong increase in demand will drive up prices.
“Low supply, very strong demand, no imports to stop like 2018,” said one trader. “Prices must continue to rise”.
Source: spglobal.com
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