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19 Sep

Inflation, strong dollar challenge steel trade: Celsa’s Gordienko

High inflation is reducing steel demand, while the US Federal Reserve’s monetary tightening has resulted in the strongest dollar in 20 years, hitting the global economy. This has reduced emerging market GDP growth rate by 2 percentage points and advanced economies growth by 0.65pp, with the impact on the latter to disappear within a year, according to Celsa Group export director Alexander Gordienko. Germany, Europe's largest economy, has entered recess…
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Burak Odabasi  |  Turkey
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