Will steel prices go up in 2023?
CRISIL Ratings predicts that global steel prices (free-on-board, China) will stabilize in 2023 after experiencing a 40% decline from the peak in early April 2022. In December 2022, the prices fell to £570-590 per tonne due to weak steel demand.
Will steel prices go down in 2023 UK?
In 2023, analysts predict that the price and demand for steel plates will experience a decrease in the beginning of the year, but the outlook for the rest of the year is uncertain and it’s unclear how much prices will decline.
Will steel prices drop soon?
Steel prices in the United Kingdom experienced a continuous decline since May 2022, hitting the lowest point in November 2022. Despite a rise in prices towards the end of the year, the overall decrease in steel prices amounted to approximately 12% in 2022.