Steel Products Prices North America
March 17, 2019
Tanners Predicts “Steelmageddon” as Overcapacity Devastates Steel Prices
Written by Tim Triplett
Steel market conditions and steel prices could be good for the next 18-24 months, but after that comes an unavoidable downturn that metals and mining analyst Timna Tanners has dubbed “Steelmageddon.”
In fact, her company, Bank of America Merrill Lynch, has trademarked the term. Speaking at the S&P Global Platts North America Steel Conference March 14 in Chicago, Tanners warned the crowd of the changes almost certainly to come. “I think this is quite transparent, the most transparent train wreck I have seen in my career, and it’s headed right for us. There’s going to be a glut that will shake up the industry.”
