Off Road Forums On Planet4x4 banner
1 - 4 of 4 Posts

·
semi-pro hack
Joined
·
1,202 Posts
Discussion Starter · #1 ·
off of CNN money...

*****
NEW YORK (Reuters) - China's voracious demand for steel has tempered of late, stoking fears of industry oversupply and falling prices as China becomes a net exporter of steel, its domestic demand slows down and global steel making capacity rises, a newspaper reported Thursday.

Steel demand in the world's most populous country has increased only by about 5 percent a month recently, compared with average increases of 26 percent a month in 2002, 2003 and early this year, according to the Wall Street Journal.

The paper also reported that steel production in China is expected to rise 22 percent in 2004 and another 14 percent in 2005. Last month the country posted net steel exports after being a net importer the year before.

These shifts in the Chinese economy, and others in the future, might force the country to dump excess supply on the worldwide market, sending steel prices down as quickly as they have soared, the Journal said.

Falling prices could benefit manufacturers, builders and consumers but hurt the U.S. steel making industry, according to the report.

U.S. steel makers have only recently started to recover on the back of strong global demand, the weak dollar and the effects of high raw material costs.
 

·
Registered
Joined
·
781 Posts
Let's hope we see a noticeable drop, it seems like whenever prices for something go up, they never really go back down to where they were :banghead:

sounds encouraging tho :thumb:
 

·
Registered
Joined
·
781 Posts
what ya doin' with that chunk of iron..........building a bridge???jk :rotfl: :rotfl:

talked to my steel supplier today, she said prices are on there way down :thumb: but not nearly as fast as they shot up!
 
1 - 4 of 4 Posts
Top