JUN 8th – JUN 14th steel price forecast
Hello everyone, It is JUN 8th today, I will give you our personal opinion in the price of steel forecast this week.
The biggest event last week was the sharp plunge in the U.S. stock market. However, we believe this has limited impact on steel prices. Coke and coking coal, the raw materials for steel, remain at high levels. However, the demand for steel is generally low. Considering the above information, steel prices are supported by costs and thus unlikely to drop significantly, while weak demand also prevents substantial increases. Therefore, we forecast that prices will remain stable this week.
