Global steel prices - brace for a correction?

The article rightfully points out to the increase in demand for steel products and metals in general and that countries as India, China and the Middle are one big construction site with high demand for raw metals thus increasing  prices of the benchmark products such as hot-rolled carbon steel to a record high. However, the article failed to mention the huge out-put of steel and metals that some...

- Raw material prices for steel makers are escalating at a very high rate - Metal scrap pricing continues to rise rapidly and it always falls before metal pricing falls at least for steel - We can expect to see continuing steel price increases in North America and Europe but what will happen in China and Korea?         

Correction in Global Steel Prices may be a long drawn process, as other countries like India tighten steel exports by imposing Export Tax varying from 15% to 5% on various steel products. The infrastructure & construction investments in South East Asia, Middle East & some parts of Africa are huge, giving a clear visibility for steel demand, in spite of a possible slow down in USA. In countries...

Steel is the world's most important metal. It is found in nearly every item we use in our daily lifes. Whether it be a pen to sign a check, whether it be the legs of the desk we are signing the check on. We are surrounded by steel.