Zhang Qiusheng, director of marketing department of Nanjing Iron and Steel Co., Ltd stated at Ferrous Metal Industry and Derivatives Forum held on April 20 in Hangzhou that in the second quarter China’s rebar and wire rod prices will move better than steel plate prices.
At the same time, Mr. Zhang thought finished steel prices will reach the highest level in late April for the first half of the year, while they will see a downward correction in May. As for the whole year, he said the highest level will happen in the September to October period of the year.
Zhang Qiusheng thought steelmakers’ profitability will shrink in the second quarter of the year due to firm trend in iron ore prices and downward trend in finished steel prices.