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Thai Steel Makers Hit as Global Prices Slide.
Byline: Nareerat Wiriyapong
Jun. 1--Local steel manufacturers have started to feel the pinch of China's move to put the brakes on its overheating economy, as global steel prices have fallen by some $100 per tonne over the past month.
Visuth Jirathiyut, vice-chairman of the Iron and Steel Industry Club, said China's steel consumption had fallen due to new measures introduced by the government, including the suspension of some new property and construction projects.
As a result, global steel prices have decreased by $100 per tonne, resulting in a reduction in domestic prices of 3,500 baht on average. For example, steel bar is priced at 17,000 ...
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Source: HighBeam Research, Thai Steel Makers Hit as Global Prices Slide.