World Steel Dynamics

Peter Marcus is the founder and managing partner responsible for the firm's core analytical output. He developed his reputation covering the steel industry as a Wall Street analyst before establishing the firm. His individual views shape the firm's proprietary steel price assessments and the annual State of the Steel Industry conference agenda.

It relies on direct contacts with steel mills, scrap dealers, traders, and large industrial consumers across major producing regions. The firm aggregates mill-level transactional intelligence to build its price forecasts, differentiating its data from publicly quoted exchange prices. Industry relationships cultivated over decades form the backbone of its proprietary data collection.

It functions strictly as a research and advisory provider, with no proprietary trading desk. Revenue comes from subscription-based access to steel pricing reports, cost analyses, and in-person industry briefings. The firm does not take physical delivery of steel or manage capital on behalf of investors.

Coverage focuses on the major steel-producing blocs — China, the United States, the European Union, Japan, and South Korea — with additional attention on emerging capacity in India and Southeast Asia. Analysis often centers on how trade actions like tariffs redistribute global steel trade flows among these regions.

Portfolio managers and buy-side analysts use the firm's price forecasts and margin estimates to model steel-producer earnings ahead of quarterly reports. Private equity and credit teams evaluating metals assets reference its multi-year price outlooks when underwriting capital expenditure plans and debt service. The intelligence provides a sector-specific overlay that general commodity price screens miss.