According to the China Iron & Steel Association (CISA), following the adjustments that were made starting in October of last year, steel stocks of mills reached their lowest level in recent years.
This situation will help to resolve the conflict between demand and supply, and to stabilize the price in the domestic market.
The steel price will tend to rise because mills have continued to cut productivity; as a result, the resource supply remains low. The output of crude steel has been cut for three months.
However, faced with unstable factors in the global economy, China’s steel industry will still meet its future challenges. Source: Yieh.com