SUBSCRIBERS
Macquarie sees Chinese steel getting cheaper
Published Wed, Dec 23, 2015 · 09:50 PM
Shanghai
THE world needs to get used to cheap Chinese steel, with export prices poised to fall again next year as the world's biggest producer adjusts to demand that's dropping for the first time in a generation.
The price of hot-rolled coil, used in everything from fridges to freight containers, may decline about 13 per cent next year, Colin Hamilton, Macquarie Group Ltd's head of commodities research, said by phone from London.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
China State Shipbuilding to build 18 LNG ships for QatarEnergy
Shell earns US$1 billion a year from US crude trading, court filing shows
Gold eases as steady US dollar dampens appeal
Oil prices fall 1% on Israel-Hamas ceasefire talks, US inflation concerns
Hot stock: Don Agro surges after plans to sell 92.3% group assets for 4.5 billion roubles
China could hinder BHP’s bid to become copper’s top producer