It is reported that China’s steel stock totaled 10.96 million tons on March 15, hitting the highest level.
The total steel output of January-February still increased by 3.1 percent year-on-year to 90.35 million tons, even under present situation of declining demand and mills’ cutting production.
Dr. Rong Gang, Principal analyst of LGMI, indicated that steel industry have much stronger supplying capability than what market need, which is the fatal pressure on the steel price to go up. Source:Yieh.com