New Lockdowns In China Are Hindering Global Steel Supply ...Middle East

It’s first-year economics: everything comes down to supply and demand. Historically, the push and pull between these two massive market forces are cyclical, and that includes steel. When you have more demand than supply, prices go up. Eventually, the prices get so high that people stop buying. After a while, the steel supply builds up, and prices plummet, leading to a surge in demand once again. It’s a familiar dance – at least, it used to be. That was before the war in Ukraine, China’s ongoing lockdowns, and global supply…

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