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Maanshan Steel: Several Concerns in Chinese Steel Market

https://en.steelhome.com [SteelHome] 2020-08-27 09:52:50

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On August 14-16, 2020, 16th Steel Development Strategy Conference, hosted by SteelHome, was successfully held in Shanghai Tower. Around 800 delegates from governments, associations, steel mills, miners, traders, research institutes attended the one of biggest events in China steel industry.

9th International Raw Materials Supply Chain Summit, 10th Coal & Coke Development Strategy Conference, 8th China Commodities E-Commerce Summit and 2020 SteelHome Summer Report were simultaneously held.

Xia Shiqing, Chief Market Analyst, Senior Technical Director, Maanshan Iron and Steel Co., Ltd, delivered a speech titled Several Concerns in Chinese Steel Market in H2 2020.

Xia Shiqing, Chief Market Analyst, Senior Technical Director, Maanshan Iron and Steel Co., Ltd

Summary of speeches

1.     Epidemic Situation

The COVID-19 was rampant in the second quarter of this year, but will not likely have great impact on global market at this point. A majority of regions have resumed work or production. However, whether the epidemic will rebound at the end of this year or the beginning of next year, we will continue to observe.

2.     Macro Policy

The meeting of the Political Bureau of the CPC Central Committee set the tasks of poverty alleviation as a decisive battle, completing the building of a moderately prosperous society in all respects, and intensifying efforts to ensure 'six priorities' and stability in six areas. Up to now, we have achieved very good results. The GDP grew by 3.2% in the second quarter year over year.

3.     Steel Supply

At present, domestic steel production faces great pressure, with new capacity releasing. In June 2020, daily crude steel output was 130,000 tons higher than that in the same period of last year.

4.     Industry Policy

In particular, the Ministry of Industry and Information Technology issued Measures for the Implementation of Steel Capacity Replacement. The requirement of steel capacity replacement is very strict, which should have a significant impact on the new capacity releasing in the second half of the year.

5.     Steel Demand

In terms of time, the demand of construction steel remains strong in the third quarter and is expected to fall in the fourth quarter.

The third quarter is the traditional dull season for flat steel market, but flat steel demand is acceptable at this point. However, flat steel demand will not likely increase sharply due to the rapid growth in the second quarter. The fourth quarter will probably see the robust growth in flat steel demand if global manufacturing industry recovers.


(To contact the reporter on this story: leo.ji@steelhome.cn or 86-555-2238932 18616060095)
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