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Market: China’s steel end-users prioritizing deliveries

ABSTRACT

China’s major steel consuming sectors including construction contractors, auto and home appliances manufacturers have been prioritizing on fulfilling their signed contracts, though they have keenly felt the bite from the higher steel prices, and they may continue to endure the pain of higher costs now that prices of both steel longs and flats have spiked in the last few days, market sources shared on May 11.
Construction accounts for 60% of the country’s total steel consumption, and auto and electronics and home appliances manufacturers are the core flat steel consumers, so recent price spikes especially so far in May have been seriously biting into the margins of these downstream industries. Just in May, China’s national HRB400E 20mm

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