CONF: Steelmakers seek new chances amid low demand

Source: Mysteel Sep 20, 2019 11:00

Low demand growth in some key steel-consuming industries including auto and home appliance manufacturing is presently casting a shadow over the prospects for steelmakers, but there is cause for optimism, according to attendees at the Asia Steel Forum 2019 in Shanghai on September 19. New opportunities exist for auto sheet makers in light-weight and high-strength steel while for makers of other types of steel, consumer demand for new high-quality home appliance products would stimulate steel demand, they said.

China’s domestic auto industry has been decelerating since H2 2018, with the China Association of Automobile Manufacturers expecting a year-on-year decline of 5% in total auto sales this year, as Mysteel reported. Under the pressure of the softening auto-sector demand for steel, Baoshan Iron and Steel Co, China’s leading flat steelmaker and major auto sheet

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