Fitch Solutions, another time, reduced the global steel price predictions for the current year amid tensions between US and china which increases the danger of global recession! Fitch believes that steel price in short term will also drop!

“We are revising down our 2019 global steel price forecast from an average of $650/MT to $600/MT, as prolonged weak investor sentiment on the back of the ongoing trade tensions between the US and China and increasing downside risks to the global economy continues to pressure prices,” Fitch Solutions Macro Research said on September 3rd, 2019.