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Weak operation of International steel market in November

Posted:2019-11-08 11:25:34

Looking forward to November, we believe that the steel market as a whole is weak. In Europe, the long-term economic downturn and the prospect of recovery are not optimistic. Therefore, the recovery of steel demand is relatively slow. Although the European Union follows the example of the United States in implementing steel trade protection measures, under the situation of global steel resources surplus and the United States boycotting the import resources, the situation of European steel resources oversupply is difficult to be effectively improved. Therefore, the European steel market is unlikely to improve in November.

In North America, after a period of decline in the U.S. market, steel mills have begun to raise prices to boost the market. In the global steel market downturn, steel mills may be able to prevent prices from continuing to fall, but the extent to which price increases are accepted by the market remains to be seen, so it is expected that the U.S. steel market will be mainly weak and stable in November.

The Asian market, which is expected to remain weak in November, is likely to further increase the imbalance between supply and demand due to the low demand season.

To sum up, we believe that the International steel market as a whole was weak in November.

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