Stable global markets for long steel a good sign for long-driven Malaysian steel sector

Source: S&P Global Platts

Date: 8 August 2018

The global market for long steel is “in equilibrium” with the outlook for future development dependent on the region, the International Rebar Producers & Exporters association said.

The international business environment and economic growth rates were currently strong, with US domestic mills benefiting from a robust economy and policies by the Trump administration, Irepas said.

The long steel sector was further supported by China’s strong domestic steel consumption and upcoming winter production cuts in the country.

“There is a certain degree of uncertainty as regards the market situation, which may be considered to be stable for certain markets, but which can described as fluctuating and or even explosive for other markets,” Irepas said.

“Notwithstanding all the above, the outlook for the global long steel products market ranges from close to satisfactory to very good for most markets.”

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