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Can steel prices rise in the fourth quarter

Posted:2020-10-26 16:38:00

China Iron and Steel Industry Association said at the information conference of the third quarter of 2020 on the 26th that the market expectation is cautious and optimistic, and the steel prices are expected to be stable. However, the pressure of enterprise cost is rising, and it is more difficult to improve efficiency. It is expected that the profits of key steel enterprises in the whole year will decrease slightly or remain flat on a year-on-year basis.

CISA specifically said that from the investigation and discussion of member units, in the fourth quarter, the orders of enterprises were relatively full, and most of them were cautious and optimistic about the market trend. From the cost point of view, it is difficult for steel prices to drop significantly. From the perspective of supply, steel prices are also difficult to rise significantly. The steel price will be relatively stable and will continue to show a small wave dynamic potential. However, the association also pointed out that at present, the prices of iron ore, coal, coke and scrap steel are at a high level and are on the rise, and enterprises are facing the pressure of rising costs. It is difficult for iron and steel enterprises to improve efficiency when steel prices are difficult to rise substantially. It is estimated that the profit of iron and steel enterprises is expected to reach about 180 billion yuan in the whole year, with a slight decrease or flat year-on-year.