Freedom Finance Global: Europe may trigger a rise in steel prices

pxhere.com
pxhere.com

One wrong move by the European Union could result in higher steel prices in the region, said Freedom Finance Global analyst Chernov in an interview with RIA News.

According to him, if steel semi-finished products from Russia are included in the next sanctions package, the prices for this raw material may rise significantly. At the same time, Moscow will not suffer significant losses, as Russian companies will be able to redirect their products to alternative markets.

China will play a special role in this matter. Steel is a highly demanded product in the Middle Kingdom after the end of the coronavirus pandemic, he concluded.

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