Posted 11/23/2023, 5:38:00 PM
Raw Materials Markets Eye Recovery in 2024 After Weak End to 2022
- Raw materials markets optimistic for demand recovery and pricing increases in Q1 2024 after weak Q4
- Pellet premiums and steel output expected to recover in Q2 after BF restarts in Europe
- Growth seen in China, India, East Asia steel markets pulling raw materials imports
- Concerns remain around Europe, largest seaborne pellet buyer, with limited Americas growth
- Russian pig iron, HBI/DRI imports into Europe continue despite difficulties, annualizing over 3 mt