MYSTEEL: China’s Dec steel prices may decline modestly
Dec 01, 2020 13:30
See Full-size Table Here
China’s domestic steel prices may experience spiral down in December, as the steel stocks may have reached the turning point and reverse up, while within the month the price fluctuation will be moderate as the fundamentals have been comparatively sound, Wang Jianhua, Mysteel’s chief analyst shared his near-term market outlook on November 30.
In December, China’s steel demand will stay higher on year, with construction steel consumption to be up 10% on year at least, and that from the manufacturing industry to increase at minimum of 15% on year, according to Wang.
The near-term optimism especially for long steel products is mainly due to