Steel Companies Braced for Price Falls
Monday, October 10, 2011 19:48Steel companies today are expecting a drop in prices as the buyers delay their orders due to extreme nervousness about the glooming global economy. As a result, the steel industry are facing a hard time. The expected price fall threatens the profits outlook at some of the biggest steelmakers across the world.
There are worries about the build-up of government debt in the US and Europe, along with the sense that the crisis in the eurozone could be about to worsen in the wake of Greece’s default, which will slow the growth of steel consumption in the area. Besides, there are also concerns over Chinese demand as inflationary pressures have forced Beijing into cutting back on the supply of credit.





