Could the price of steel be impacted by China lifting its zero-COVID policies? China typically accounts for nearly 60% of the world’s demand and production of many major commodities. Those consumption and production levels have, of course, been lesser due to a slowdown in China’s manufacturing economy.
But as rumblings of lifting restrictions began in late 2022, the price of commodities started to increase. In the clip below, Nick Webb, Ryerson's director of risk management, commodity hedging, dives into what this could mean for global steel prices.