Will Steel Prices Go Down In 2024

Will Steel Prices Go Down In 2024. Due to continued downside factors (war, energy prices, high inflation) and to a worsened economic outlook for 2023, apparent steel consumption is also set to drop in 2023, albeit slightly less than. So more supply and steady demand should lead to lower prices, but perhaps prices won’t fall as low as we’ve seen in the past if the eaf mills—which account for an.

Steelmakers are on course to post higher profits in the first quarter of 2024 as prices spike from a scramble by buyers to restock following a brief halt in. A december 2023 report from oxford economics predicted 2024 reductions in steel prices of ~7% both in the eu and in the usa;