Steel prices at their low

MAG
opublikowano: 20-11-2008, 12:40

Warsaw (Puls Biznesu) – Steel prices have not stabilized yet. They continue their downward trend but companies say this is  about to end.

In the middle of the year, steel products prices were at record high. In the third quarter, they dived. At the beginning of the fourth quarter, producers warned they would cut production and the decreases stopped. Not for long, however. Steel prices are falling again, some products, including steel rods, lose 5 percent weekly. A ton of steel rods costs PLN 1,640-1,900 (EUR 424-492)and according to experts it won’t fall any more.

“Steel products used by the construction industry should not become cheaper. Producers, not only the Polish ones, but foreign ones as well – say they will increase prices on December 1st”, Robert Wojdyna, Konsorcjum Stali CEO said.

Metal scrap prices won’t fall, energy will become more expensive.

“Steel bars prices have reached their bottom. Flat steel may fall”, Grzegorz Dolkowski, Drozapol Profil CEO said.

In his opinion, the construction industry, though hit by a slowdown in the homebuilding market, will thrive thanks to growing number of infrastructural projects (roads, stadiums). Flat steel used by automotive and home appliance sectors may fall.

(PLN 1 = EUR 0.259)

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Podpis: MAG

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