Increasing interest rate might slow down global steel prices dropping
Time:Fri, 29 Jul 2022 08:43:53 +0800
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The Federal Reserve has decided to increase the second consecutive time interest rates by 0.75% point to against high inflation.
In terms of the steel industry, with the recovery of the global economy slowing down, the demand for steel and the profit for steel mills were low. Therefore, many steel mills cut their production to respond to the situation.
At the same time, dear money is continuing to make financial liquidity divest. After steel prices consecutively dropped, the dropping trend slowed down.
In China, the steel supply decreased, but demand was still at a low level. The future steel market trend will be regarding real estate policy and cutting steel production.
