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Nov.30.2021 1USD=6.3794RMB
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Profile of 5th China Steel: In the Eyes of the World

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On March 1, the 5th theme conference "China Steel: In the Eyes of the World" was held by SteelHome website and World Steel Dynamics (WSD) in Hotel Lansheng, Shanghai . The conference was co-sponsored by Nanhua Futures and jointly organized by CITICS Futures Co., Ltd. and Good Credit International Trade Co., Ltd., with the support of Shanghai Guanghe Co. Ltd., Huisheng Group, SUMEC Group Corporation and Steelyuan. Over 350 representatives from steel mills, distributors and related industries in Shanghai and neighboring provinces attended the meeting.

The conference was presided over by Liu Wenlu, SteelHome Vice President and Chief Information Officer.

Wu Wenzhang, President of SteelHome, delivered the welcome speech, and he highlighted the cooperation between SteelHome and WSD in the future.

Wu Xing, General Manager Assistant from CITICS Futures Co., Ltd., gave a speech on Inventory Management by Means of Futures Market. China steel futures market has been quite mature. Enterprises using futures depend on their own outlook, enterprises characters and futures basis.

Yang Lifang, Deputy Manager, International Trade Department of Good Credit International Trade Co. Ltd., gave a brief introduction of the company and provided her view on the medium-and-long term trend of global steel market in 2011. China steel prices are likely to show a steady rise, with slight correction, she predicted.

The keynote speech was given by Peter F. Marcus, Managing Director of World Steel Dynamics. WSD revises its previous forecast on the world spot export price for hot-rolled band (HRB) on current Middle East situations. WSD places the odds at 35% that the world spot export price for (HRB) will top out in April. For the next few months, WSD places the odds at 55% for stable prices and 15% for lower prices. Iron ore market is vulnerable with steel market change. Iron ore price rise also means steel production increase.

Zhu Bin, Head of Research Office at Nanhua Futures believed the current round of steel price increase was driven by cost, which may not reverse in the short term. However, steel prices are likely to be stimulated on growing demand in the near future. Furthermore, China domestic market will be more easily affected by the international steel market.

Finally, SteelHome President Wu Wenzhang believed that China steel market will rise amid fluctuations after correction and the bottom may be well above prior lows. As raw material prices still perch high, steel mills will face higher pressure of rising costs. The ample liquidity will remain in China. Moreover, many uncertainties will increase in the steel market, such as the continuous rising of interest rates and higher financing costs.

5th Theme Conference "China Steel: In the Eyes of the World"

Wu Wenzhang, President, SteelHome

Peter Marcus, Managing Director, World Steel Dynamics

Zhang Chang'an, Grassroots Researcher, WSD

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