The world's steelmakers are increasing output despite softer demand, pushing down prices.

　　盡管需求疲軟，全球鋼鐵廠商卻在增加產量，這推低了鋼鐵價格。

　　In a few countries, notably Brazil and the U.S., steel prices remain high, thanks to steady demand in the former and limited output in the latter. AK Steel Holding Corp. in February said it would increase, by $50 a short ton, prices for all of its carbon, flat-rolled steel products, a move followed by other U.S. steelmakers.

　　一些國家的鋼材價格居高不下，尤其是巴西和美國。因為巴西的需求穩定，而美國的產出有限。AK鋼鐵控股公司（AK Steel Holding Corp）二月表示旗下所有碳扁鋼價格每短噸（約合0.907噸）上調50美元，隨后美國其它廠商也紛紛漲價。

　　But U.S. prices -- especially for hot-rolled steel, a key component used in most steel products -- could be headed lower too, says Peter Marcus, economist and steel analyst for World Steel Dynamics Inc., a consulting firm. 咨詢公司World Steel Dynamics Inc.

　　的經濟學家和鋼鐵分析師馬庫斯（Peter Marcus）說，美國的鋼鐵價格也可能走低，尤其是熱軋鋼。熱軋鋼是在多數鋼鐵產品中都會使用到的關鍵原料。

　　"Steel buyers in the United States are bearish on the price outlook for hot-rolled," he says. "They're now receiving offers for hot-rolled band from abroad in the $740-$800 per-net-ton range, which compares to the domestic price in the $870-$890 per-ton range."

　　馬庫斯說，美國的鋼鐵買家看跌熱軋鋼的價格前景。這些買家收到的熱軋帶材（hot-rolled band）的海外報價為每短噸740美元至800美元。相比之下，美國國內報價為每噸870美元至890美元。

　　Many global steelmakers increased production in the second half as world economies strengthened. But price increases followed because of stronger demand -- and higher costs for raw ingredients, such as iron ore, coal and scrap -- across a broad spectrum of products, such as premium automotive-grade steel, pipe and tube for energy markets and plate steel for ships. The price of plate steel rose 22% in major steel-producing countries and the price for pipe and tubing rose 14% in the second half.

　　隨著全球經濟走強，全球許多鋼鐵廠商在去年下半年增加了產能。隨后由于對一系列產品的需求增加（其中包括優質汽車鋼，能源市場用到的各類管材以及造船所需的厚鋼板），以及鐵礦石、煤炭和廢鋼等原材料價格走高，鋼材價格也開始跟著回升。去年下半年，主要產鋼國厚鋼板價格上漲了22%，各類管材的價格上漲了14%。

　　Now, prices are falling as demand softens, in part because of unrest in the Mideast, the effects of Japan's earthquake and tsunami and relatively high supply. In China, the world's biggest steel producer and consumer, annualized steel production rose 16% to 708 million metric tons in February from November, according to the China Iron and Steel Association. Steel prices in China meanwhile have fallen around 8%-10%. 'The fundamental problem the Chinese mills have faced in recent times has been strong competition among the 30-plus entities selling their products to the same customers,' Mr. Marcus says.

　　現在由于需求疲軟，價格出現下跌。導致需求疲軟的部分原因是中東動亂，日本地震和海嘯帶來的影響以及供給相對過剩。據中國鋼鐵工業協會估計，從去年11月至今年2月，中國的鋼鐵產量折合年率增加了16%，至7.08億噸。中國是世界最大的鋼鐵生產國和消費國。與此同時，中國的鋼材價格大約下跌了8％-10％。馬庫斯說，近幾個月來中國鋼廠面臨的根本問題在于激烈的競爭，30多家鋼廠在爭取同一批客戶。

　　Outside China, February steel production rose to an annualized rate of 827 million metric tons, slightly higher than the peak of 811 million metric tons reached in May, according to World Steel Dynamics.

　　 中國之外，據World Steel Dynamics估計， 2月份鋼鐵產量折合年率上升至8.27億噸，略高于去年5月8.11億噸的產量峰值。

　　Prices for key raw ingredients are falling as well. Prices for iron ore fell about 9.5% last month from February on the spot market, aided by plentiful supply.

　　關鍵原材料價格也出現下跌。現貨市場上，由于供應充足，3月份鐵礦石價格比2月份下跌了約9.5％。

　　While analysts don't believe lower steel prices are part of a longer-term trend, they could continue to fall as buyers and traders wait and pit sellers against each other. Mills in Russia, India, Taiwan and parts of Europe have tried to boost prices between 2% and 7% for several types of steel, but some buyers are holding off.

　　雖然分析師并不認為鋼材價格走低是一個中長期趨勢，但由于采購商和貿易商還在觀望，并在不同鋼廠間相互壓價，所以鋼材價格可能繼續下跌。俄羅斯、印度、臺灣以及部分歐洲國家試圖給好幾類的鋼材提價，漲幅在2%至7%之間，但一些采購商持觀望態度。

　　"It would not be prudent for us to buy more steel now if the prices are continuing to drop," says Stanislav Khazanov, steel buyer for Central Steel Co., a small Moscow-based buyer that also has operations in India and Ukraine and buys steel for use in tool making. "We have about six weeks of inventory that is sufficient. I believe prices will drop another 2%-5% in the next few weeks."

　　莫斯科小型采購商Central Steel Co. 的鋼鐵采購員哈扎諾夫（Stanislav Khazanov）說，如果鋼價還在持續下跌，那么我們現在購入更多鋼材將是不夠謹慎的行為。我們有大約六周的存貨，足夠用了。我認為未來幾周鋼價還會跌2%至5%。Central Steel Co.在印度和烏克蘭也有業務，采購的鋼鐵用于制造工具。

　　Mr. Khazanov isn't alone.

　　持上述觀點的并不只是哈扎諾夫一人。

　　"There is something of an impasse in the West European market as customers prefer to sit on the sidelines rather than place business at the inflated levels being demanded by the domestic producers," according to MEPS International, a U.K.-based steel consulting firm.

　　總部位于英國的鋼鐵咨詢公司MEPS International 說，西歐市場有點陷入停滯。客戶寧肯觀望，而不愿意以國內生產商要求的上漲后價格達成交易。