Ended December for the global steel market
The pace of price collapse in December has decreased slightly. In November in the global steel market it was much faster. However, he still has not stopped. The relative stabilization can be observed only in China. But other countries can’t say the same. The turning point was the fact that the Chinese President met with the President of the United States. XI Jinping and Donald trump was found in Buenos Aires. There from 30 November to 1 December held the G20 summit.
XI and trump agreed to hold another round of trade negotiations. 1 January was to enter into force the new fees. They concern a significant part of Chinese exports to the United States. Duties, has acted before. However, the new had to be increased to 25%. However, the increase was postponed for three months.
In the metallurgical industry of China had some problems in the last month. Constantly appeared various news. Because of this varied stock quotes. He wanted up, then abruptly fell. While this happened in the shortest possible time intervals. This is a traditional «swing» for the Chinese industry. However, in December, they were not as sharp as in the summer.
In the global steel market is oversupplied. Experts say that the global economy recession. Steel products started to use the far less popular. The reason for this made of steel and aluminum USA rates. In addition, the mite introduced import restrictions of the European Union.
With the Turkish steel industry significant problems. She is the weakest link today. So Turkey has seen a depression. Most of it affected the construction sector. But the problems of the country affect other States. For example, the Russian metallurgists have lost significant consumer of billets and flat steel products.