The Stainless Espresso with the most important info for the day. Credit Suisse sees an “exceptional” global steel market in a recent analysis. The rating agency Care Ratings expects another possible price rally for steel in 2022, and Goldman Sachs sees commodity prices at their highest level in a decade.
Credit Suisse: Global steel market “extraordinary”
In a new report on the steel industry, Credit Suisse analysts note that the past year has been “extraordinary” for global steel markets, with flat steel prices reaching record highs last month. The analysts comment, “Demand is strong in virtually all major sectors, and years of capacity rationalization and consolidation have finally collided with a synchronized global demand recovery, resulting in steel shortages in many regions.”
Credit Suisse believes the cycle still has more room to run and that U.S. producers are in the best position to benefit from strong demand for steel.
Source: 247wallst.com
Global steel price rally to continue in 2022?
HRC prices in the USA have risen by 160%, in Europe by 133% and in China they have already risen by 79 – 92%. The credit rating agency Care Ratings has published an interesting insight into the development of steel prices in the recent past. We have taken a closer look at it. And wrote a few thoughts about it.
Click here for our full article.
Commodities keep climbing
Commodities rose to their highest level in nearly a decade as major economies recover from the pandemic. Demand for metals, food and energy is rising, while bad weather is hurting crops and transportation bottlenecks are limiting supplies. The Bloomberg Commodity Spot Index, which tracks prices for 23 commodities, rose 0.8% Tuesday to the highest since 2011 and has gained more than 70% since March 2020. Commodities could rise another 13.5% in six months, Goldman Sachs said in a recent report.
However, they do not want to see a super-cylce yet and wait for the next few months.
Source: bloomberg.com
Read also:
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- Stainless Espresso: Alloy surcharges May 2021
- Stainless Espresso: New Provisional Anti-Dumping Duties
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
