Steel demand ‘evaporating at unprecedented speed’
The steel industry's dire straits are in the spotlight this week, with both China and the U.K. warning about the hit from the dramatic slump in demand, particularly from the world's second-biggest economy.
Steel prices have held at $170 per ton since
October 8, having fallen sharply over the last year
from above $400 per ton.
The World Steel Association forecasts that global steel demand will decrease by 1.7 percent in 2015, before growing by 0.7 percent in 2016. However Chinese demand is seen falling both this year and next, by 3.5 percent and 2 percent respectively, following a demand peak in 2013.
DYI
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