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CSI: China’s parades delay oversupply a few more weeks

CSI: China’s parades delay oversupply a few more weeks (Oct. 3, 2019)

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Steel markets had a short panic in early September as production restrictions were looser than expected. These were then tightened ahead of the 70th anniversary of the founding of the People’s Republic of China on 1 October to ensure blue skies.

With economic sentiment souring and steel demand expected to see only a modest recovery in the coming weeks, there remains a risk that China’s steel markets will under-perform and follow global steel markets lower.

The question now is, are restrictions enough to balance the market to the end of the year?

 

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