We’re almost midway through the year and we watched New Year’s pricing go as quickly as it had come. We have more uncertainty in the market today than we’ve ever had. Some of the key issues affecting us all: What will be the outcome with Brexit? And what will be the outcome with the USA and China?
All of these uncertainties are clouding today’s markets. We’re seeing a slowdown of production in a few markets, some of which was to be expected as we approach the summer months and we get the seasonality of slowing construction, higher energy costs and so forth. Some of the reduced production is said to be caused by China, which has been on pace to produce at a record level equivalent to more than 950 million tons for the year as a whole.
Once we get some clear decisions, the market will react one way or another and provide clear direction. The BIR Convention in Singapore will be a crucial point in time for us and will provide a valuable opportunity for us all to network and focus on the future. The time for us is now! Come to Singapore and support the BIR - it’s more important than ever. You can’t afford to miss our presentation and market discussions.
Greg Schnitzer
President of the BIR Ferrous Division
Country
