The latest outlook survey by S & P Global Platts shows that despite the slow recovery of downstream steel demand, iron ore prices should be strongly supported in the second quarter as Chinese steel companies are expected to increase steel output.
Although China's finished steel stocks are soaring, 72% of respondents believe that crude steel production will increase in the second quarter. This finding is in stark contrast to previous surveys, when more than a third of Chinese steelmakers said they were considering cutting production.
This reflects that the China steel market is beginning to turn optimistic, although only a quarter of respondents expect demand to return to normal by the end of April. In addition, about 35% of steel companies believe that the market will fully recover by the end of May, and 25% of steel companies believe that the market will fully recover by the end of June.
Just like you, 70% customers choose long-term cooperation with BBN steel not only for our good product and service quality, good reputation in the international market, but also for our experienced one-stop raw material supply and further steel processing!
Henan BEBON Iron&Steel co.,ltd.
Language
Online Consultation
