What’s next for oil prices? After rallying by about 40% since their lows earlier this year, forecasts now by major banks paint a mixed picture but one that increasingly looks like a W-shaped recovery.
The average forecast in a MoneyBeat survey of 10 banks is for Brent, the global benchmark, to fall to an average of $63.35 a barrel in the third quarter of this year, down from around $66 on Tuesday. West Texas Intermediate, the U.S. marker, will average $58.40 a barrel next quarter, down from about $59 a barrel on Tuesday, according to the survey.
05 May 2015
The International Stainless Steel Forum (ISSF) has released stainless steel production figures for the entirety of 2014.
The results show that stainless steel melt shop production increased by 8.3 percent year-on-year to 41.7 million metric tons (mmt). As well, production increased in all regions, including the Americas, except for Central and Eastern Europe.
The specific results for North and South Americas were: 2, 813 tons for the entire year, which is a 14.6 percent increase compared to 2013 with 2,454 tons. The quarterly breakdown for 2014 was as follows: Q1-670, Q2-717, Q3-711, Q4-716.