STEEL OUTLOOK: Q2 prospects much better than last year, Irepas says

The conclusion of various holiday seasons, the end of winter, the progress of Covid-19 vaccination programs, and the will to return to more normal ways of life were all strong positives for the global long steel products market, the International Rebar Producers & Exporters Association (Irepas) said last week.

The current situation and sentiment were generally very good in the world’s long steel markets, with order books mostly filled, Irepas added in its quarterly Outlook for April-May 2021.
“With production increasing in many parts of the world at the same time, commodities, raw materials and steel will continue to be in high demand in the spring [of 2021],” Irepas said.
“There is sufficient demand for long products worldwide despite the pandemic. The relevant questions now are: how permanent will demand be, and can supply to the market be adjusted quickly enough when demand decreases?” the association added.
“The outlook for the [second] quarter is much better compared with last year, and is very good for most of the market. The market can generally be described as set to prosper, with the exception of the import market in the United States, which is still unstable,” it said.

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Serife Durmus

March 10, 2021

20:33 GMT