Mr Nava claimed it's not likely steel prices would tumble as low as in 2020 mainly because prices in China and Asia have stabilised.
A go to to SteelAsia’s seventh and latest plant in Compostela Cebu on Could 23 presented a glimpse in the internal workings of SteelAsia, which boasts a 3-million-metric-ton manufacturing capacity of steel rebar. Its ongoing enlargement pipeline will produce financial prospects for regional production of critical downstream merchandise like wires, nuts and bolts, mesh, cables, and even pre-engineered steel buildings.
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Two elements that may press up the price of steel in the primary quarter of 2022 are China's elimination of an export benefit-added tax rebate on steel items and the state's tightened environmental regulations and oversight, he claimed.
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