PRICE FACTORS AND PREDICTIONS 2021 - General Steel

3

STEEL BUILDING

2021 PRICE FACTORS

AND PREDICTIONS

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

3.9%

4.1%

3%

3

2

1.4%

1

1.7%

0

2019

2019 Actual

2020

2020 Actual

2020

Predicted

Predicted

Predicted



3 OTHER FACTORS THAT CAN INCREASE STEEL PRICES IN THE UNITED STATES

Natural Disasters

Wars and Conflicts

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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