Josh Spoores, a research manager from Majestic Steel USA, states that the price of steel will rapidly increase worldwide over the next few years due to a higher demand for steel in Brazil. Brazil has been a major net exporter of finished steel products but their economy is steel-intensive and their economy is growing. As Brazil uses more and more steel they will become an importer of steel therefore increasing the price of the metal.
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Spoores, Josh. “Increased Brazilian Steel Demand To Impact World Supply.” www.fabricatingmetalwork.com. March 5, 2012 <http://www.fabricatingandmetalworking.com/2010/10/increased-brazilian-steel-demand-to-impact-world-supply/>