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Tuesday, May 26, 2009

Morgan Stanley: Steel prices may stay at low levels

Monday, 25 May 2009

It is unrealistic to expect a recovery in steel prices and, from the long run, the prices are likely to stay at the level just a little more than the costs, Morgan Stanley said in a report. Constant expansion and the rising level of imports have offset the recent increase in orders, in particular for long products, putting a cap on the recovering prices.
Morgan Stanley remained cautious about the steel industry in Chinese mainland, South Korea and Taiwan Island. The group made forecast about the steel price index in Chinese mainland at $490 per ton in 2009.
Source: CISA