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Two sessions boost confidence in steel market

Posted:2021-03-10 14:01:55

After the national two sessions, the good information about the steel market has become the focus of market participants. It can be seen from the signals transmitted by the national two sessions that China's steel market will present the following operational trends this year:

First, market supply may decrease. The relevant person in charge of the Ministry of Industry and Information Technology has repeatedly said that the reduction of steel production will be further promoted in 2021, and new steel production capacity is strictly prohibited. Under the background that the two sessions mentioned the goal of carbon peak and carbon neutralization again, it is imperative for the iron and steel industry to comprehensively reduce the output of crude steel. In the case of no expansion of production scale, steel enterprises are bound to achieve high-quality development through industrial structure adjustment and variety upgrading.

Second, steel prices are expected to rise slightly as a whole. The report revealed more favorable information about downstream industries. For example, we should steadily increase bulk consumption of automobiles and household appliances, lift unreasonable restrictions on second-hand car trading, increase parking lots, charging piles, power stations and other facilities, and speed up the construction of a power battery recycling system. These positive information boosted market confidence.