International Steel Prices
November 17, 2013
OAO Severstal Sees World Steel Prices as Having Bottomed
Written by Sandy Williams
Global steel prices may have finally bottomed out, said Severstal CFO Alexey Kulichenko. Severstal sees a slow recovery in store for 2014 with steel prices similar to those in 2013.
“We don’t really believe there is more room for going down, so we think on average maybe we have reached the bottom,” said Kulichenko said in an interview on Thursday. “With overcapacity in place, and with the behaviour that we observe, we don’t believe there will be quick sustainable growth in the short term. We think it will be a slow, gradual movement from this level up.”
