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ArcelorMittal Kryvyi Rih is confident of further growth in prices for rolled metal

Ukraine / Business and Finance

The world's leading manufacturers are switching to scrap metal, the collection of which has not increased recently, which ensures a long-term trend of rising prices for steel raw materials, according to the plant's sales department.

ArcelorMittal Kryvyi Rih is confident of further growth in prices for rolled metal

The rise in prices for metal products in recent months is quite justified and will continue, says Evgeny Chumachenko, Director of the Sales Department of ArcelorMittal Kryvyi Rih.

According to Chumachenko, Biden's victory in the United States adds support to the rise in steel prices on the world market. everyone is counting on a softening of protectionism in America.

"If the United States cuts the 25% duty by at least 2 times, then prices may immediately rise by $ 60-70 additionally," the director of the department predicts.

In addition, Chumachenko says, the governments of many large states have printed a lot of money to support their economies. This money is invested in infrastructure projects, which in turn ensures a fairly large consumption of rolled metal.

"ArcelorMittal Kryvyi Rih", which was strong last year pushed aside in the Middle East, sees prerequisites for a recovery in global steel demand and expects sales to increase in new markets, including Australia, South America and Southeast Asia.

Recently, the company is faced with the fact that most states are strengthening protectionist measures against the import of Ukrainian rebar and wire rod. In November 2020, ArcelorMittal Kryvyi Rih stated that they lost Egypt and some countries of the Persian Gulf as a sales market.

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