1210 days ago • Posted by William Ramstein
Stimulus in China and a low price for metallurgic coal (used to make steel), gave mills the flexibility to pay more for iron ore. China produces more than half the world's steel and has rolled it out at soaring rates. Crude steel output was 87.7 million tons in November up 8% YoY. The price of the steelmaking commodity could retreat in the year ahead with Chinese demand and supplies cooling off. The US and European Union show inverted bell curves for steel production in 2020, after a fall from grace seen by the US earlier this year. Source: WSJ
