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1.Market Observations, 8.Was Sticky

2 July 2018 (AFR) – Big trade war pushes steel to 6-year high in Australia

(2 July 2018, AFR, p8, by: Angus Grigg, Simon Evans)

‘The price of steel in Australia is nearing a six-year high, pushing up the cost of new housing and infrastructure projects, as the Turnbull government continues to impose tough anti-dumping measures on imported steel. Industry players say such strong prices usually man an uptick in production around the world and deliver some price relief, but this has failed to materialise due to supply cuts in China, Donald Trump’s tariffs in the US and the strong global economy. David Roberts, the chief executive of Sydney-based steel trader Sanwar, said…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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