Growth in world steel production may lower market prices

According to the statement of JSW Steel, one of the largest steel producers in India, the growth of world steel production may affect the upward trend in prices.

In 2020, strong domestic demand for steel and iron ore in China pushed the market price to a new high. Among them, rebar and hot rolled coil futures rose more than 30% compared to 2019.

However, following the high level of inventories, the market expected prices to become stable as construction activity also declined.

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