Steel and aluminium prices have been incredibly volatile over recent years but what will 2023 have in store? Mintec have recorded a webinar to highlight what 2023 has in store for these markets.
Many factors have an impact on the prices of metals such as the energy crisis, declining consumption, international trade and fluctuations in production costs. These factors, amongst others, have contributed to a volatile period for metal prices. 2023 is likely to throw up many challenges in this industry, so Mintec have addressed this in a pre-recorded free-to-view webinar.
Five key takeaways from this webinar are:
1) The fall in metal production exceeds the decline in demand. This will lead to a shortage in the market.
2) The fall in steel and aluminium production in 2022 is comparable to the collapse in the pandemic of 2020.
3) China will determine global market movements at the start of the year.
4) The outlook for economic growth is very subdued and metal consumption is unlikely to increase accordingly.
5) There are a lot of market scenarios, so there is a lot of uncertainty in the market right now.
Artem Segen has pre-recorded the webinar due to unpredictable power outages in Ukraine which is where he is based. You can ask questions to the presenter if they are sent in via email, details for this are included in the video.