22.11.2011 - Is rust setting into the steel market?
Continued weakness in the price of steel is leading analysts to question if we could see a relapse similar to that of 2008 when prices plummeted. In 2008, the steel billet price (three month, US$/tonne) dropped sharply by 81% over a four month period from June to October. The steel billet price has dropped from US$595/t to US$ 525/t (-11.8%) over a six week period spanning September and October and has remained flat, closing on US$527.50 on 18 November. A December price predicates a further drop to US$520/t...............................................Full Article: Source
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