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Steel supply must be ensured in China, prices must be controlled in the volatile market!

China Iron and Steel Association made a statement. In his statement, he evaluated the prices of the sector.

Steel supply must be ensured in China, prices must be controlled in the volatile market!

The China Iron and Steel Association (CISA) said on Saturday that industry players must ensure supply while keeping prices stable "in a complex, volatile, unstable and uncertain market situation".

In a post on the association's official WeChat page, Chairman He Wenbo said that much attention should be paid to the recovery of global steel production, adjusting production and improving industry management.

The government 'technical specification' on scale of production said it was "not a long-term solution".

“Market forces, the rule of law and internationalization are still fundamental principles that we must always adhere to,” he added.

China's daily crude steel production in September fell to its lowest level since December 2018, as power outages across much of the country and environmental restrictions slowed industrial activity, according to Reuters calculations based on official data. Prices were also quite variable.

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