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Tata Steel: Steel Prices Could Rise Much Higher in the Next Decade
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2021-12-01
     The Indian Tata Steel CEO T.V. Narendran said steel prices in the coming years could rise much beyond the past few years. The CEO explained the steel market is going through several changes, including cost increase and China's role change in this market. "The last 10 years have been dominated by exports out of China. Now, there's far more stability in world steel trade."

     At its peak, China exported more steel than India produced, Narendran said. China's steel exports have since halved to around 60 million tons a year, and could fall further as the country pursues its net-zero carbon emissions goals, and for “the first time in many years,” steel demand is not being driven by China, said Narendran. The World Steel Association expects growth in steel consumption this year comes from countries other than China. “With the Western world investing in infrastructure, that's positive for steel demand as well.”

     On the supply side, steel production costs are at “historic high levels” because of coal prices. Iron ore prices, however, have weakened and should trade within the $100 to $120 per ton range in the long term, he said. Steel prices may also be pushed up by the increasing carbon cost in Europe. “I expect to see steel prices at a much higher level than we've seen in the last 10 years, over the next 10 years.”
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price rise
next decade
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下個10年
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