According to the China Iron and Steel Association’s (CSIA) report released yesterday, the steel market is going to stay relatively stable followed by recent price adjustment.
Foreign trading will show its advantage if the global market picks up in the future and the Chinese domestic market will keep growing based on the country’s prosperous economy, although it is still facing the problem of overproduction at the moment.
Statistics shows that the steel product price index has fallen by 1.78 percent comparing with last month, and declined for 28.93 percent in contrast to the same period last year, as due to overproduction.
In particular, heavy plates and steel stripes still face a problem of oversupply. Overall, CISA predicts that steel prices are going upwards steadily.
Source: Yieh.com