China’s June steel output to stay high, demand to soften
May 29, 2020 17:45
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China’s steel production is expected to stay high in June as domestic steelmakers have been securing some profits, industry watchers predict. However, concerns are being raised about steel demand retreating both at home and abroad, they admit.
“The fundamentals of steel are firm this month, and domestic steelmakers have been making some profits, especially those producing rebar. By the end of May, the margins that integrated mills were earning on rebars had reached about Yuan 400/tonne ($56/t),” a Shanghai-based analyst said, indicating the profits have encouraged mills