![]() ![]() The varying forecasts and outlooks all point to the volatility of the steel industry and global economy as a whole. WalletInvestor, an algorithm-based forecast tool, predicts that steel prices will increase 31% over the next year. The revised forecast anticipates a 1% increase in demand and a cautious outlook as the global economy remains volatile due to inflation, war, and COVID-19.Īnother industry source, S&P Global, is predicting the current low prices to extend into 2023, but is hesitant to project any long-term decreases. The World Steel Association, one of the leading industry authorities, shared its most recent Short Range Outlook in October. ![]() But questions remain whether the relaxed restrictions will be maintained as well as uncertainty around China’s housing market, a leading source of demand. ![]() Theres really not much to dislike here, other than the price is a little. The country’s relaxed COVID-19 restrictions have contributed to optimism in the industry that steel demand and prices could see a substantial increase in 2023. As far as the sound quality goes with Pedal Steel, I really believe its top-notch. As the world’s leading steel producer and consumer, China and its market have an outsized impact on steel prices around the world. ![]()
0 Comments
Leave a Reply. |