Falling 2008 steel prices

More prophecies of falling steel prices emerge from the experts at UBS. The Financial Express today quotes analysts who are predicting an 8.5% price fall in 2008, caused by rising inventories and increased exports from China.

For full story, see http://www.financialexpress.com/fe_full_story.php?content_id=159628

blogger@steelonthenet.com

2007 steel prices in China to fall

Steel prices in China are to fall later this year, according to an industry report published today. The price reduction is expected in the second half of 2007 and will be driven by increases in steelmaking capacity outstripping growth in demand.

Shortages of steel products on the international markets are likely to come to an end in the second half of the year, suggest industry observers.

For original report, see
http://english.people.com.cn/200703/28/eng20070328_361853.html

blogger@steelonthenet.com

Mittal regrets lack of MBA degree

'The biggest regret of my life is not having a MBA degree' Mittal said while addressing the annual convocation of the Institute of Management Technology, reports DNA India.

The MBA degree is the 'Master of Business Administration' business school qualification. The richest steelmaker in the world was unable to continue studying for his MBA after graduating in Kolkata because of involvement in family business.

For original report, see http://www.dnaindia.com/report.asp?NewsID=1086974

blogger@steelonthenet.com

Steel price outlook - up or down ?

Purchasing.com recently summarised a very contrasting set of views concerning 2007 steel prices. Whilst steel producers say that current steel prices are still going up, steel buyers are adamant that prices are on their way down...

Thus 'disappointment with the fourth quarter of last year and optimism for the first quarter of 2007 are consistent commentary from steel producers' is one view. The other view is 'falling demand, excess inventories and persistently high imports taking their toll on pricing'.

The original report is at http://www.purchasing.com/article/CA6414427.html.

blogger@steelonthenet.com

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