PRICE FACTORS AND PREDICTIONS 2021 - General Steel

3

STEEL BUILDING

PRICE FACTORS

AND PREDICTIONS

2021

Every year we survey leading economists and organizations who specialize in predicting where the

price of steel will go over the next 12 months.

Here's what we found.

1

WHEN ASKED ABOUT WHAT FACTORS COULD INCREASE STEEL PRICES

PUBLISHED ECONOMISTS AND SAID

Steel prices increased by 3% in 2020 and in 2021 steel

is again predicted to increase by 4.10% or more

Construction spending is expected to increase due to

China's economic recovery and ending lockdowns

Suppliers have not turned on the blast furnaces shut

down during 2020, creating decreased supply

2

HISTORICALLY ECONOMISTS AND EXPERTS

UNDERPREDICT STEEL DEMAND AND PRICE GROWTH

PREDICTED STEEL PRICE INCREASE VS ACTUAL

5

4.1%

3.9%

4

3%

3

2

1.7%

1.4%

1

0

3

2019

Predicted

2019 Actual

2020

Predicted



2020 Actual

2020

Predicted

OTHER FACTORS THAT CAN INCREASE

STEEL PRICES IN THE UNITED STATES

Wars and Conflicts

Natural Disasters

Tariffs

Strength of the Dollar

Expert Prediction for 2021

¡°In 2021 steel demand is expected to recover to 1,795.1 Mt, an increase of 4.1 % over 2020. A

strong recovery in China will mitigate the reduction in global steel demand this year. The post

lockdown recovery in steel demand in the rest of the world has been stronger than was earlier

expected, but it still marks a deep contraction in 2020, both from developed and emerging

economies, with only a partial recovery expected in 2021..¡±

Al Remeithi ? Chairman of the World Steel Economics Committee

? General Steel Corporation

Learn More: Annual Steel Price Forecast

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