According to the research by market analysts, on March 9, the production of the five major steel products, rebar, wire rod, HRC, CRC and medium plate, increased by 49,000 tons since the week of February 27 and amounted to 9.52 million tons on March 9.
Another Beijing-based analyst states that the gains in rebar are due to people predicting that the rebar market will improve.
Iron ore analyst Yu Chen said that the declining steel demand is gradually recovering, which benefits the iron market and that hot metal production will gradually peak in March.
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