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Jan.19.2022 1USD=6.3521RMB
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Wu Wenzhang: Certainties and Uncertainties in Current Steel Market

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Mr.Wu Wenzhang, Board Chairman & Founder of SteelHome, lately introduced his viewpoints on current steel market.

Certainties

1 Chinese government will conduct production limitations on steel during Beijing Winter Olympic Games;

2 Chinese government will make efforts to stabilize economic growth instead of seeing a downfall in the fourth quarter;

3 The capital supply at the end of year will be contracted, but more fund will be pumped into market thereafter.

4 Thermal coal price has been stabilized, with sufficient coal stockpiles at power stations.

Uncertainties

1 Market demand to recover or not?

2 With eased macro control on property, many construction sites in China are re-started up. However, the effect of the policy is uncertain.

The market participants are suggested to find opportunities buried in uncertainties. Meanwhile, we should warn that the risks of uncertainties tend to be covered in certain events. For instance, the annualized crude steel production in China has fallen from Augusts 1.14 billion tons to 0.84 billion tons in October, accompanied with weak market. It reflects that the steel cutbacks, the certain one, generates uncertainties, such as governments hands on coal market and sluggish steel demand.

Wu Wenzhang, Founder with SteelHome


(To contact the reporter on this story: tina.tong@steelhome.cn or 86-21-50585733 15800777957)
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