HRB export price may plummet further, bottom out in September

The world steel export market appears to be in the midst of a several-month price crash.  The reason for the crash is an amazing, and perhaps unprecedented, buyers’ strike.  The buyers’ strike – also called “The Chill” – began in July once global buyers of steel products and steel scrap realized that the prices of these products were topping out after their massive run-ups.  Buyers, at that point, became fearful that the next direction in prices was down.  En masse, they decided to hold off their orders.

For a full copy of our report, please click here for information on becoming a WSD subscriber.