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PrintAnsteel, one of the magnates of Chinese steelmakers, has risen up the products price by RMB50-380/mt for October in Sep. 19 behind Baosteel and Wuhan Iron and Steel (Group) Corp.
However, monthly report by CISA (China Iron and Steel Association) indicates that the steel price can hardly continue the rising trend as an excessive supply and is expected to fluctuate in the future.
In September, the steel products are in an active consumption. But the pressure from China’s policy of Energy Saving and Emission Reduction leads to a wide production cut or suspend for steel mills, which releases the conflict of demand and supply. And thus, the steel price rose up in that time.
In the future, demand may soft and purchasers will observe beside or throw the stockpiles, and then the market will endure much pressure and output of steels will fall down due to the strict policy of Energy Saving and Emission Reduction.
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Yue Lei
Email: yueleilei@ferro-alloys.com
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