Falling prices for steel 2021 and metal products
At the end of May, the price of the metal was highly dependent on China. Where recently the value of the metal fell sharply on the stock exchange. First of all, this happened due to the struggle of the local government with traders of shares and metal on the stock exchange.The cost fell from $ 234 to $ 190 per ton of iron ore. After that, the growth of prices in the scrap metal sector stopped.
Due to the rapid fall in prices on the stock exchange in China, throughout Asia and Europe, many metal and metal product purchasing companies were forced to temporarily suspend their purchases.
Metal price forecast in 2021
Despite the sharp decline in the current metal prices in the UAE and around the world, this event cannot be called a major collapse. At the end of May, prices for steel and all metal products increased slightly.Also, high rates of price growth were found in many competitors, for example, coking coal or bulk materials.
However, due to the bad season of weather conditions in China and Asia, there is a high probability that prices for rolled metal products will remain at the same level in 2021.
Buy wholesale steel and metal in the UAE
Leave a request to our e-mail or call us on the phone number in the "contacts" section.