As a result of strong economic growth in China, steel prices and availability of steel are under severe pressure.
Western steel manufacturers have been heavily competitive with low wages, focused on the production of semi-finished products or more complex steel grades. Due to the drop in supply from China, steel prices and prices of derivatives derived therefrom have risen sharply.
With the fasteners, this rise is very strong because many European factories have moved their production to the Far East. Nemad expects a slight price increase for the coming period, followed by a high level price stabilization.
Overview developments steel prices: Eurofer