Analyst Pin-board Steel industry – Steel prices are weighted on short-term cooling down and could rerise in 2H2022
- Steel prices in Europe have declined gradually after reaching a peak in April.
- China's economic reopening could be a catalyst for steel prices resurgence.
- The goal of increasing the presence of Russian steel in Southeast Asia will more or less increase pressure on the regional market.
- Galvanized sheet manufacturers can expand profit margin in 2Q22 by closing export contracts to the Europe at high prices; difficulties of prolonged high production costs erode margin of upstream producers.
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