The China Iron and Steel Association estimates Tuesday that steel output will decline in the second half of the year, while total exports of steel products will also fall back in the second half.
This shows that under the constraints of high iron ore prices, energy saving and emission control, and monetary tightening policies, the prospects for the development of the Chinese steel industry in the second half of the year are not optimistic.
According to the Steel Association, statistics on steel inventories of large and medium-sized enterprises show that the steel market has seen a trend of oversupply, and that domestic steel prices have also started to decline.
The association also said that due to the cancellation of export tax rebate rates for some steel products in the second half of the year, coupled with the oversupply of international steel market and international trade protectionism, the total export volume of steel products will obviously drop from the first half of the year.
China produced 323 million tons of crude steel in the first half of the year, an increase of 21% over the same period of last year. In the first half of the year, 25.58 million tons of steel were exported.
This shows that under the constraints of high iron ore prices, energy saving and emission control, and monetary tightening policies, the prospects for the development of the Chinese steel industry in the second half of the year are not optimistic.
According to the Steel Association, statistics on steel inventories of large and medium-sized enterprises show that the steel market has seen a trend of oversupply, and that domestic steel prices have also started to decline.
The association also said that due to the cancellation of export tax rebate rates for some steel products in the second half of the year, coupled with the oversupply of international steel market and international trade protectionism, the total export volume of steel products will obviously drop from the first half of the year.
China produced 323 million tons of crude steel in the first half of the year, an increase of 21% over the same period of last year. In the first half of the year, 25.58 million tons of steel were exported.
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