A recession situation may reduce global steel demand. In terms of China's domestic market, investment in infrastructure construction is expected to continue to increase in 2023 due to the policy package aimed at stabilizing the economy.
In 2022, China's steel stock has decreased significantly. As of December 23, China's steel social inventory index was 86.1, falling 6.7 percent year on year.
Apart from that, the steel market may rise in the spring of 2023 as steel participants do not stock up much in the winter.
It is estimated that the average steel price in the first half of 2023 will be higher than the price in the second half of 2022.
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