##Chinese steel market to remain positive into 2022, prices to remain elevated##
The China Metallurgical Information & Standardization Institute (CMISI) has a positive outlook for the country’s steel market amid strong demand from a transformation of domestic steelmaking facilities and production curbs.
“China’s steel market looks positive for this and next year due to robust demand and production reduction. Building furnaces is going to consume a lot of steel,” Zhang Longqiang, the head of the institute, said at the 2021 China Iron & Steel Industry Information Forum in Kunming, Yunnan province on Thursday July 22. Zhang expects a turning point for the market to emerge only in the second half of 2023. An easing of production curbs will likely have a “significant” effect on the steel market, he added.
Lastest Steel index <<5600>> up 79 up 1.43% Lastest Steel index <<5600>> up 79 up 1.43% Lastest Steel index <<5600>> up 79 up 1.43% Lastest Steel index <<5600>> up 79 up 1.43%
Please do more joke push the index go up more !!!!
China has accelerated efforts to reduce iron ore production in line with its carbon emission reduction goal, telling steel mills to ensure this year's output will not exceed 2020 volumes after H1 production rose 12% from the same period last year.
In Tangshan, China's top steelmaking city, "authorities have vowed to punish violations of production restrictions," according to ANZ commodity strategists.
Average daily steel production worldwide fell 0.5% in June from May while Chinese production declined 2.5%, according to Capital Economics analyst Kieran Clancy.
Guess is another good news for steel and fundamental for steel producers.
Steel is commodity like oil. It is very volatile. Be careful when invest in steel. Unless you understand commodity mkt well, you should not over invest as things can change very quickly.
Cost leader for steel = Hiapteik and Ann Joo. Hiapteik is practically managed by China using China tech. Ann Joo and Hiapteck now mainly exports its product to China
Steel output increased 11.6% vs last year corresponding period which is low based during to covid.
Average daily steel production worldwide fell 0.5% in June from May while Chinese production declined 2.5%, according to Capital Economics analyst Kieran Clancy.
I have shared enough information here. Please do your homework before you invest. Do not listen to anyone including me. It is your money, please decide yourself.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
joyd12345
159 posts
Posted by joyd12345 > 2021-07-23 16:00 |
Post removed.Why?