Increasing global demand for steel has sent prices rocketing to record levels. Manufacturers in various industries are feeling the shock, putting corporate credit ratings under pressure.
“Increasing demand has set the stage for the increase in steel prices,” says Dennis Ruggles, director of research in paper, forest products, mining and metals at Fitch Ratings. Analysts do not foresee a decrease in demand for several years. UK-based MEPS International, a consultancy company covering global s