2007 steel price forecasts
Forecasts for year 2007 steel prices are proving a little more divergent than usual...
The http://www.steelonthenet.com forecast [see steel price forecast 2007 - 2008], published at the end of 2006, predicts the next price low at end 2007 and the next steel price peak around Q3 2008.
This set of predictions is in line with the general downward forecasts for several other metals. Analysts from the Wachovia Foundation discuss these in the context of the general slowdown worldwide. Wachovia's analysts currently also see much downside in steel prices.
Yet recent reports from other sources suggest steel price stability in 2007. In discussions about POSCO's earnings prospects, CNBC for example discuss a stable steel price outlook for 2007.
More bullish views exist also. The India Times in particular discusses steel ingot prices [which seem to be rising despite general observations elsewhere of falling steel prices between Q4 2006 and Q1 2007]. These steel prices have increased since the beginning of 2007. Ingot steel price futures also show a rising price trend as we move into mid-2007.
So what is going on? Perhaps we will reappraise matters at the end of 2007, but for the time being we stick with our own projections for falling steel prices over the coming months.
blogger@steelonthenet.com
The http://www.steelonthenet.com forecast [see steel price forecast 2007 - 2008], published at the end of 2006, predicts the next price low at end 2007 and the next steel price peak around Q3 2008.
This set of predictions is in line with the general downward forecasts for several other metals. Analysts from the Wachovia Foundation discuss these in the context of the general slowdown worldwide. Wachovia's analysts currently also see much downside in steel prices.
Yet recent reports from other sources suggest steel price stability in 2007. In discussions about POSCO's earnings prospects, CNBC for example discuss a stable steel price outlook for 2007.
More bullish views exist also. The India Times in particular discusses steel ingot prices [which seem to be rising despite general observations elsewhere of falling steel prices between Q4 2006 and Q1 2007]. These steel prices have increased since the beginning of 2007. Ingot steel price futures also show a rising price trend as we move into mid-2007.
So what is going on? Perhaps we will reappraise matters at the end of 2007, but for the time being we stick with our own projections for falling steel prices over the coming months.
blogger@steelonthenet.com
posted by sotn @ 10:53 AM permalink
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