Steel supply and demand is in balance towards the end of the year, with global EAF-based production having been curtailed as Chinese exports increased this year, while expectations for Chinese stimulus are firming sentiment into 2024, according to Cargill Metals managing director Lee Kirk.
Over 100 million tonnes fewer of scrap were consumed this year globally excluding China, but with no resulting downward pressure on scrap prices. This has prevented EAF mills fr…
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