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CSI: Power, debt cloud steel markets

CSI: Power, debt cloud steel markets (Oct. 11, 2021)

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China’s steel markets are in the midst of a seasonal recovery in demand during a period when iron ore prices are under pressure and steelmakers should be able to sustain strong margins. You would be forgiven for not noticing his however, considering the two dramatic turns of events which rocked a wide range of markets over the last month. The real estate developer debt crisis and the power supply crisis have pulled markets in different directions and added new volatility to already-unpredictable prices.

In this issue we will try to pin down the direct short-term impacts of these two factors, while keeping market fundamentals firmly in mind.

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