Anti-dumping duties are welcome, Agarwal said, as all countries should protect employment and industry within their borders. And even though the World Trade Organization (WTO) has regulations on international trade, these are becoming irrelevant in today’s steel trading environment, he added.
“If my home is on fire, I have to put that fire out. I cannot let my neighbour make merry over my funeral,” he said, noting that China would not have such an excess of material for export if its economy were still vibrant.
Raw material prices
Raw material prices are directly related to demand and pricing for finished products, Agarwal said. In steel, he added, there is too much oversupply, which prevents raw material prices from rising.
Prices for iron ore could fall in 2015 by about 20%, plus or minus 2-3%, Agarwal said....