Global Steel Markets Bottoming Out, Says Mill Executive
11/16/2015 - An executive at Japan’s largest scrap-based steelmaker said the global market is hitting a pricing bottom, arguing that loss-making mills are going to be confronting their commercial limits, according to BloombergBusiness.
“Economic irrationality won’t last forever,” Kiyoshi Imamura, managing director at Tokyo Steel Manufacturing Co., told reporters in Tokyo on 16 November, according to the news service.
While prices are unlikely to slide much further, it will take some time before they recover, Imamura said, the news service reported.
The company on Monday maintained the price of its hot rolled coils at 53,000 yen (US$433) a metric ton.
While prices are unlikely to slide much further, it will take some time before they recover, Imamura said, the news service reported.
The company on Monday maintained the price of its hot rolled coils at 53,000 yen (US$433) a metric ton.
