NDRC: China's steel market to strengthen in March

China's steel market is expected to gain momentum this month, with prices likely to trend higher as the sector enters its traditional peak season in spring and market sentiment turns optimistic. This is according to the most recent survey of the steel sector's health conducted by the National Development and Reform Commission (NDRC), which covered major wholesale steel markets in South China, Shanghai and Tianjin.

The survey showed a dramatic shift in sentiment across key indices. The Sales Price Expectation Index for China's wholesale steel market had surged 38.51 percentage points from February to 75.37%, far above the 50% threshold and indicating strong bullish sentiment among market participants. The Purchase Price Expectation Index had