China’s steel market might fluctuate for this week
Time:Tue, 01 Nov 2022 09:25:49 +0800
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Global inflation is still high, so many countries decided to increase their interest rate. Therefore, the global economy might continue to be in recession.
To solve the situation, China’s authority improved its financial strategy to support major construction projects. Also, China tried to expand job opportunities to improve consumption ability.
Regarding supply, China’s steel mills faced a deficit, so parts of the steel mills cut their production. on the demand side, although demand expectations still existed, with entering the off-peak season and the weather factors, the markets might be impacted.
In terms of the steel market outlook for this week, China’s steel market might fluctuate at a low level.
