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Provide estimates to establish and maintain project budgets, and we provide related cost management services.
JLD Cost Consulting updated their phone number.
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2018 Steel Price Forecast
As the world’s leader in steel production, China has a strong influence on the steel industry as a whole. Two years ago, China’s massive steel output tanked steel prices as supply greatly outweighed demand.
Chinese production is declining as the Chinese economy shifts away from manufacturing and infrastructure and toward services. Chinese officials announced last year that the country will decrease steel production by more than 165 million tons by 2020.
“As China’s steel exports decline, we can expect robust western steel prices.”
Seth Rosenfeld, Jefferies Global Investment Firm
Why does this matter? As the world’s leading steel supplier decreases production, demand in the United States continues to rise. As T.V. Narendan, Chairman of the Economics Committee at the World Steel Association, echos: “We expect global growth to moderate in 2018, mainly due to slower growth in China, while in the rest of the world, steel demand will continue to maintain its current momentum.”
Will Steel Prices Increase?
The current momentum in steel demand is great for steel manufacturers, but if steel production decelerates in 2018, the consumer is likely to pay more as steel prices in the United States continue to rise.
In April and October, worldsteel announces its short range outlook (SRO), a forecast for apparent steel use. The April SRO looks seven quarters ahead and the October SRO, which is announced at worldsteel's annual conference, looks five quarters ahead
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Where is the love? Right here on February 21st. We invite you to attend a joint CSI/ASHRAE/ASPE/AACE meeting and share the love with our partners. Join us and learn more about other organizations in the construction industry, meet members you may/will work with in the future, and learn from colleagu...
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