Pakistan’s Steel industry news and business
Thursday February 22nd 2018

Categories

Insider

Archives

Rebate reduction and CNY appreciation might trigger the revival


Chinese steel prices have traditionally been the lynch pin of movements in global steel market. Ironically despite all the odds the movements in the dragon land has defied the economic tenants and come out with rejuvenated resilience asserting its strength in the worst of times. The paradoxical movements in the Chinese steel industry has defied logic at times but belied expectations many a times.

The recent recessionary run post European economic crisis has coerced operators around the world to curtail production apart from price as a survival tactics. But China, despite all the hullabaloo, has remained adamant with increase production by 1.2% from April to 56.1 million tonne in May. It is true that the Chinese steel prices have bulked by a whopping 10% in the last 2 months and export volumes have bulged up to 13 million tonne in 1st Qtr clocking YoY growth of 99 %. [Read More]