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Steel Prices Are Expected To Keep Rising In The Second Half Of The Year
- Aug 09, 2018 -

In the first half of 2018, China's Furnace market showed a weak and then strong operating trend. After entering March, the prices of scrap, iron ore, billet and other raw materials fell sharply due to the fall in steel prices. Subsequently, the demand for steel was gradually released, and the imbalance between supply and demand got improved. Steel mills' profits improved, and the enthusiasm for purchasing raw materials gradually recovered. The prices of raw materials such as scrap steel have gradually begun to fluctuate and pick up.

According to statistics, in the first half of 2018, the country's cumulative crude steel output was 451.16 million tons, a increase of 6% to the same period of last year. Crude steel production continues to climb. In the case of a relatively lucrative profit, the production enthusiasm of steel mills will remain high in the second half of the year. 

In the first half of this year, China's economy was stable and the GDP grew by 6.8%. In the second half of the year, some compliance projects will speed up the progress, and infrastructure investment will continue to be stable. In addition, the modest increase in ship orders will drive the increase of steel demand in the second half of the year. Coupled with the promotion of the construction of related projects, the demand for steel in the second half of the year will remain stable, steel prices are expected to continue to rise, so do raw material prices.

Besides, in the second half of 2018, blue sky defense warfare, limited production in heating season in national scale will have a certain boost to steel prices.

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