Steel is an interesting market at the moment, says S&P Global Platts

Steel is an interesting market at the moment because there are a lot of moving parts and all the output cuts are happening in China and there is weaker Chineses currency, said Paul Bartholomew, Senior Managing Editor, S&P Global Platts

“With lira depreciating like crazy puts Turkish steel exports in a potentially stronger position and some Asian steelmakers are nervous as they are going to be competing with lower price exports coming out of Turkey,” said Bartholomew.

He further said as long as countries generating enough demand for steel, it should solve a lot of the problem.