Little opportunity seen for China steel market gains in 4th qtr.
Oct 03, 2013 | 09:40 AM
SHANGHAI Chinas steel market is unlikely to gain much momentum in the fourth quarter, given rising supply and moderate demand.
The country produced 2.14 million tonnes of crude steel per day from Sept. 11-20, up 0.7 percent from the first 10 days of the month, according to the latest China Iron and Steel Association (Cisa) data. That amounts to 782 million tonnes on an annualized basis.
"Production could stay high in the next few months as no major mills have cut back plans so far. But the pace could slow down, given the recent downtrend in steel prices, as well as stricter environmental controls in major steelmaking regions such as Hebei province," a northern Chinese mill source said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.