According to a MEPS report published today, steel prices are headed toward $1000 per tonne. This would bring steel prices back to their levels of July 2008, which was the last steel pricing peak before the crash.
Driven by higher steelmaking input costs [including coking coal, iron ore as well as steel scrap], the current expectation is for world steel prices to reach $1000 per metric tonne by Q3 2011.
To read the MEPS report, visit http://www.meps.co.uk/MepsNewsSteelPrices2011.htm
Labels: 2011, coking coal, iron ore, meps, pricing, scrap, world steel prices