Rising steel prices: what is expected to happen in the short term
28/04/2021
The price increases of raw materials are arousing many concerns in the industrial sector, especially with regard to steel prices, which have recently been reaching very high levels. That was the main topic of the “Mercato e Dintorni” webinar, organized by siderweb. According to Gianfranco Tosini of the siderweb Research Department, there could be two factors at the origin of the increase in steel prices: on the one hand, the pronounced divergence between production and the demand of the user sectors; on the other hand, the speculation of the financial market on price increases. These increases, however, would be destined to re-enter within the second quarter of the year thanks to a realignment between supply and demand. As for steel production, in November the "World Steel Association read a resumption of European production, back above the levels of 2019 and in this 2021, with the restart of the ArcelorMittal plants in Gent and Taranto”, according to Emanuele Norsa (analyst of Kallanish), there should be a further and significant increase. According to Alessandro Banzato, president of Federacciai and Acciaierie Venete for the current year we must expect stable, if not even rising, consumption and prices.
