According to latest statistics, the production volume of steel in December in China’s domestic market continues to increase. During the first half of the month, the key large and mid-scaled steel enterprises have produced 14.05 million tonne of steel, up by 2.7% compared to November.
Although China’s steel enterprises is now reproducing, the steel prices in the traditionally gloomy winter season are still kept at a high level. Not only Baosteel, but also Wugang steel have announced price rising policy in recent days.
As it’s near the end of the year, steel traders are facing the problem to replenish storages. As the market analysis has provided by China’s Steel Association shown, the storage volume of five steel species in China’s 26 main steel market has been declined for a consecutive period of six months.
Even if the steel production volume will continue to increase, it’s still predicted that China’s steel market will go upward in the near future. On one hand, thought the reproduction is on the way, the absolute production volume is still quite low, far away from the record high of last year. On the other hand, the current steel storage continues shrinking, which will help to offset the effect of reproduction to a certain extent.
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