9,031.64 TRY BIST 100 BIST 100
4.91 CNY CNY CNY
34.25 USD USD USD
37.57 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
43.80 TRY Interest Interest
79.74 USD Fossil Oil Fossil Oil
31.49 USD Silver Silver
4.45 USD Copper Copper
109.32 USD Iron Ore Iron Ore
367.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,910.16 TRY Gold (gr) Gold (gr)

China’s steel market expected to recover in H2

In 2024, China's stainless steel market experienced a period characterized by supply-demand imbalances.

China’s steel market expected to recover in H2

China has seen sluggish demand, particularly in the machinery sector, in the second half of 2024, while supply levels remain high. This imbalance has added additional pressure to the market, although rising nickel ore prices and lower production margins have provided some support.

Several factors may affect the market in the future. The upcoming Mid-Autumn Festival and National Day holidays, as well as expected interest rate cuts, are expected to positively affect market dynamics. Despite the weak overall demand, especially in the machinery and derivatives sectors, there is cautious optimism that these factors can stimulate market activity and investment.

The overall steel market has been weak since the beginning of the year, partly due to stalled infrastructure projects and slow bond issuance. However, the central government’s renewed focus on infrastructure in July-August and the acceleration of bond issuance are expected to boost steel demand in September-October. Bond funds are expected to flow into municipal construction, infrastructure and affordable housing, gradually increasing steel demand.

In addition, China’s promotion of major projects such as affordable housing and urban village renovation, as well as campaigns run by the Ministry of Commerce, are expected to further increase steel consumption. The campaign has already shown positive results in boosting demand for automobiles and home appliances.

In summary, although China’s stainless steel market faces ongoing challenges due to weak demand and high supply, the upcoming holidays and supportive policies offer potential for recovery. The steel market is expected to benefit from accelerating infrastructure investment and development projects and to experience a gradual recovery in the second half of the year.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

India’s steel imports increased by 41% in April-September 2024

Tuesday, October 8, 2024

Formosa Ha Tinh Steel increases HRC prices for December shipments

Tuesday, October 8, 2024

Yemen rebar prices rise by more than 50 dollars after surprise Chinese decision

Tuesday, October 8, 2024

Indonesian mining company acquires 30% stake in smelter owned by subsidiary of Tsingshan Group

Tuesday, October 8, 2024

U.S. weekly crude steel production sees yearly and weekly decline

Tuesday, October 8, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now