China’s steel market in Sep expected to rebound with fluctuations amid improved steel demand & supply
发布时间:[2022-9-1 8:16:38] 浏览量:355次
Recently, with steel prices rebounding, many of China’s steel mills resumed work in August. On August 26, the blast furnace’s operating rate of Chinese key steel mills was 78.7%, which increased by 2.1% compared with the previous week, and it had grown for four consecutive weeks.
Meanwhile, in Sichuan province, with decreased temperature and eased rainfall and power rationing, the steel mills were expected to resume work.
However, the increasing prices of scrap, iron ore, and coke increased steel producers’ costs. As a result, production would not increase significantly in the short term.
China’s stimulated policies made steel demand rise slowly. Also, the decreasing interest rate benefited the real estate industry and further promoted steel demand.
The steel output might increase in the future, but it was still limited, and steel demand was expected to improve. The steel market in September was expected to rebound with fluctuations, depending on the interest rate and the Covid-19 epidemic.
