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Chinese steel market forecast April, 2020

Due to the impact of the epidemic in January and February, some iron and steel enterprises cut production and restricted production. The output of iron and steel declined month-on-month, but still showed a year-on-year growth trend. According to the National Bureau of Statistics, from January to February, China's crude steel output was 15.47 million tons, a year-on-year increase of 3.1%; steel output was 16.73 million tons, a 3.4% year-on-year decrease. The China steel market fluctuated downward in March. With favorable policies and a slow recovery of market demand in the middle of the month, the steel market showed a staged rebound in China.
Chinese steel market forecast April, 2020
At present, the domestic epidemic situation has been effectively controlled, and the resumption of production of key projects and industrial enterprises has significantly increased. Infrastructure investment is gradually increasing, local government special debt issuance is accelerating, and a series of counter-cyclical adjustment policies such as finance and currency are also continuously in force. The market will still form a large suppression; and the decline in coke prices, the cost of supporting steel prices continues to weaken. It is expected that the domestic steel market will continue to oscillate in April, with a periodical rebound.
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