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Nov.26.2020 1USD=6.578RMB
  SteelHome >>Steel>>Steelmakers' Info>>Industry Dynamics
 
Angang Steel: Steel Price to Rise amid Fluctuation in Q4

http://en.steelhome.cn [SteelHome] 2020-10-27 16:34:37

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2020 China Coal and Coke Industry Conference, hosted by Dalian Commodity Exchange, China National Coal Association and China Coking Industry Association, and organized by Shanghai SteelHome, was successfully held in Shenzhen on October 21-23, 2020. Around 500 delegates from governments, associations, steel mills, miners, traders, research institutes attended one of the biggest events in China coal and coke industry.

Liu Huatao, Manager of Raw Material Procurement Department of Angang Steel, attended the conference and delivered a speech.

At present, steel industry presents high output, mounting inventory, strong demand and low profit, thus steel industry concentrates on reducing the cost brought by the imported iron ore and coking coal prices.

Steel consumption saw continuous growth. National fixed asset investment was down 0.3% year on year to 38 trillion yuan; industrial value added over January-August was up 1.4% year on year.

About the further market development, Liu said, the steel demand will remain at a high level with the improved macro economy, manufacturing industry and construction industry. As for the steel supply, steel inventory will probably decline due to the stricter environmental protection policy and decreased import volume.

Steel price is estimated to increase amid fluctuation in the fourth quarter.

(To contact the reporter on this story: nancy.bu@steelhome.cn or 0086-21-50585358 15955340612)
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