CISA: finished steel prices to fluctuate within limited range in H2

Monday, 08 July 2019 11:05:27 (GMT+3)   |   Shanghai
       

Qu Xiuli, vice president of the China Iron and Steel Association (CISA), has stated at the 4th China Steel Derivatives International Conference 2019 held in Shanghai that import iron ore prices are unlikely to indicate continuous rises, but will soften to reasonable price levels, while indicating that finished steel prices in China in the second half of this year will fluctuate within a limited range.

Ms. Qu pointed out that China’s crude steel output in the first five months this year surpassed 400 million mt, up 10.2 percent year on year, while the prices of rebar and wire rod have performed better than flat steel prices.

In the first five months, CISA member steel enterprises achieved an aggregate gross profit of RMB 85.5 billion ($12.5 billion), down 18.15 percent year on year.

Ms. Qu said that demand for steel from downstream users will likely decline due to environmental protection measures and the decreasing profitability of downstream industries. Against this overall backdrop, finished steel prices in China in the second half of the year will likely fluctuate within a limited range, the CISA official stated.

 


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