According to latest research report published by BMI, global steel prices are likely to remain subdued in 2024, despite anticipated recovery in Chinese local prices in the latter half of the year. The subdued global average prices will be mainly on account of notable dip in prices in major markets other than China.
The quarterly BMI report published in December 2023 the global steel demand continues to remain weak, driven by weaker demand from manufacturing and construction sectors in developed economies and persisting weakness in Chinese property sector.
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