Baowu sees long, flat steel market trends distancing more
May 15, 2020 18:00
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The divergence in market trends between long and flat steel products in China is likely to intensify this year because of the impact of COVID-19 on global and domestic steel demand, according to Wang Juan, Secretary of the Board of Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of the world largest steel producer, China Baowu Steel Group (Baowu).
Demand for long steel products this year is almost guaranteed to be firm, given the central government’s determination to further stimulate infrastructure construction, Wang noted during a Q&A session on Baoshan Steel’s Q1 business performance on May 13. On the other hand, demand for flat steel products is expected to