Steel Prices Scored Major Gains in April: Claim Your Long-Term Outlook, Compliments of MetalMiner™

April was a huge month for steel prices. What appeared to be a rally lead by anti-dumping actions has turned into something more powerful due, in part, to a rebound in demand from China.

“It is now clear that China has unleashed a renewed government stimulus program in the form of credit expansion and infrastructure build. This could have a bullish impact on commodity prices like we saw during the 2009-10 China stimulus program,” said Lisa Reisman, executive editor, MetalMiner™. “Some suggest it (the stimulus) will be over this year because China doesn’t want to encourage another speculative property bubble. But the Chinese have a history of extending stimulus measures beyond original time frames.”

For a long-term outlook to inform your direct material sourcing strategy, claim your copy of our Annual Metals Outlook, now updated for Q2!