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The steel market of China has upward space this year

Posted:2021-02-25 17:52:34

The overall price of overseas steel market is higher than that of China. On February 23, China's hot rolled steel coil export quotation (FOB) was 675 US dollars / ton, which was 45 US dollars / ton, 80 US dollars / ton and 75 US dollars / ton lower than that of CIS, Turkey and India respectively. If the domestic steel output falls this year, the demand will be more dependent on the international market. The price difference between the domestic steel market and the overseas market is the key factor affecting the import and export. Higher prices in overseas markets are not conducive to imports. It is a positive support for China domestic steel prices.

On the whole, domestic and overseas steel demand will increase this year, domestic emphasis is on reducing production. Global steel overcapacity will not be the main contradiction in the steel market. Monetary policy will maintain domestic stability, major overseas economies will remain loose, and the factors driving steel prices overseas are stronger than domestic. In the long run, with better demand and looser monetary policy, there is room for the steel market to go up.