S&P Global Platts is getting a bit bearish on steel since its recent surge, said Paul Bartholomew, Senior Managing Editor of the firm on Wednesday.
Speaking in an interview with CNBC-TV18, he said, “Coming out of Chinese New Year holiday next weeks, many people in the market are not sure where the price direction is going to head. So it’s a bit of a bearish assessment creeping in at the moment.”
Bartholomew also said that the steel market may start seeing a drop in demand given high prices.
On the copper front, he said, “The outlook for copper is good because there are still some global supply shortages around the world, there are still some problems in South American supplies. A lot of the decarburization programme measures taking place in electric vehicles, they all are going to use copper. So the outlook for copper is quite good. It’s going to do pretty well in the longer term.”
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