11
Oct
13:42
Oil to hamper Mid-East steel demand through 2017
Lower for longer oil prices are likely to impact Middle Eastern finished steel demand until at least 2017, when demand growth is forecast at 0.1% on-year, according to worldsteel raw materials head Baris Ciftci. This will follow 0.3% growth in 2016 to 53 million tonnes.
Middle Eastern finished steel demand registered a -1.2% decline in 2015, its first drop since 2009, dragged down by cheaper oil slashing government revenues, as well as socioeconomic instability.…
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Anonymous
Very good overview of the weekly steel market.
Anonymous