Hurricane Sandy might blow the Steel Market Hot in short time

  • Thursday, November 01, 2012
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  • Keywords:Hurricane Sandy Steel Market
[]As the east coast in USA shudders to the windy onslaught ofSandy speculation about X factor kindling revival in global steel prices gains weight. As USA grapples in assessing the extent to the infrastructure and population expectancy of reconstruction is simmering in every quarter.
However given protectionist policies of the USA off late the rebuilding is likely to ring fortunes for the domestic mills. However it is possibility of curtailed supply of key steel making raw material viz., scrap and coking coal culminating in spike is raising aspirations.
USA being a major supplier of scrap will certainly cause upheaval in this milieu. Moreover winter being lull period for scrap generation has historically been period of buoyancy. Like-wise constricted supply of UScoking coal owing logistical and mining impediments would help to bolster the sagging prices.
In the backdrop of cost escalating factors taking center stage price improvement in finished steel is likely in Q4 despite Chinese profligacy and unrelenting European crisis.
  • [Editor:editor]

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