The International Rebar Producers & Exporters Association (Irepas) believes that the current status of the global long steel market is predominantly stable and strong due to a number of positive factors, it said in a monthly forecast issued on Tuesday February 8.
The association noted the global revival of trading, which is likely to improve further when the cold season ends.
“Demand is picking up in the global long steel products market after the holidays and it will be even better once the weather becomes warmer in the northern hemisphere,” it said.
“Demand is reasonable for EU mills as there are some serious projects in the Mediterranean region. The extremely mild winter in Europe has not interrupted construction. All yards are running at 100% and mills are nicely booked with orders,” it added.
Bottlenecks such as increased freight rates and Covid restrictions are easing, according to the association. The semiconductor chip shortage is also reducing, which will boost car manufacturing.
According: metalbulletin
