What i'm seeing here in the states:
The cost of living went up. People are finding that they're " locked in " with their present job. They get an annual raise but it's not keeping up with cost of living increases.
The only way to keep up is to leave their job for something that pays better.
When their employer has to hire in somebody new the starting pay has to be much higher otherwise nobody will be interested in it because it's not paying a living wage.
Labor is one of your biggest costs when you're running a business.
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Where global consumer demand is off they're probably stockpiling the scrap metal in China. It makes sense to buy it & stockpile it while it's cheap to buy.
Consumer demand will have to pick up AND the big players in the game will have to work through all of their stockpiles before steel prices start to come up again ?
If that's right .... then the steel you're bringing in now will help delay a rise in price ?
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