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Kallanish Steel Weekly: 2017 finishes on a high note

Kallanish Steel Weekly: 2017 finishes on a high note (Dec. 19, 2017)

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This year has been mainly seen as a net positive for the steel market. Finished steel prices have recovered globally, reaching new record levels in China, supported mainly by the stronger-than-expected demand in the largest steel-consuming country in the world. A firm reduction in Chinese exports to international markets has also been evident. In addition, steelmakers have enjoyed higher margins for global sales, continuing the much-needed recovery in profitability initiated in 2016. Nevertheless, the end of the year brings its usual plethora of questions about what 2018 will be like. Will Chinese suppliers continue to reduce their exports, thus helping global prices to remain firm? Or will market sentiment deteriorate in the coming months?

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