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Steel demand expansion may hard to exceed expectations

Posted:2021-05-19 17:58:29

In April, economic recovery was maintained, industrial production rose steadily, real estate investment grew rapidly, infrastructure investment accelerated slightly, manufacturing investment improved, and internal and external demand resonated, driving steel demand.

There is still room for economic recovery in May, but the PMI new order index of manufacturing industry and the new order index of construction industry both fell in the early stage, and the downstream expansion of steel industry slowed down. In the manufacturing industry, because the consumption is less than expected, the production expansion and investment willingness of related enterprises are restrained, the expansion momentum of fixed asset investment is not strong, and the related industries such as construction machinery will also be affected; In the construction industry, real estate investment gradually erodes resilience, infrastructure investment is not strong, and steel demand is gradually weakening in the peak season. At the same time, due to the rapid rise of steel prices, the downstream demand is restrained, and the expansion of steel demand may be difficult to exceed expectations.