Chinese steel market expected to pick up in June

China's Angang Steel, Benxi Steel and Baoshan Iron & Steel (Baosteel) recently announced that they will keep their May prices stable. Taiwan's China Steel Corporation (CSC) stated that China's stimulus policies are expected to restart the steel market in June after the market correction in May.

CSC also reported that China's leading steelmakers maintained their May prices due to slowdown in inventory replenishment. In addition, the government has issued a warning against iron ore speculation, which may affect steel prices. However, the development index of China's medium-small enterprises increased in the first quarter. The market has signaled a recovery in the short term.