Steel prices should stabilise; availability concerns fade

Steel & Tube’s Brendan Smith says nickel usage has grown steadily. (Image: Steel & Tube)

Wed, 30 Nov 2022

The moderating benefits of the rising New Zealand dollar on steel prices could be countered by a small recovery in prices of commodities that feed into steel, such as iron ore, nickel and coal.Steel & Tube’s latest procurement update details many cross-currents affecting steel pricing, from soaring inflation, surging interest rates and the ongoing Russian war on Ukraine, to the havoc wreaked on China’s economy from its zero-covid policy.China’s steel demand is down 4% but it had also pumped trillions of yuan into stimulus...

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