International steel city peak season is not prosperous ,countries expect the bottom of the steel mill pick up
Recently by Formosa steel plant hejing, India and Russia and other places under the impact of hot rolling prices, the international steel city is suffering from “turbulence attack”, resulting in the steel city “peak season is not flourishing”.
In response, Sinosteel chairman Weng Zhaodong said that at present China, Japan and South Korea steel mills have joined the list of support plate, hope that steel prices reached the bottom, can as soon as possible in November ~ December to stop the rise.
Weng Zhaodong pointed out that from October 13 to 17, he led the team to Mexico to attend this year’s annual meeting of the world iron and steel association, then will exchange views with the leaders of the steel industry, hope to be able to the recent turbulence in the steel market, can put forward appropriate solutions, and help eliminate turbulence, so that the steel city as soon as possible “out of wood and out of wood”.
For steel market environment recently, Wen Zhaodong pointed out that in the previous Formosa tinh mills of relief cut $51 per metric ton of hot-rolled products, India also hot rolled all the way down, now and in the Russian hot rolled to a spoiler at a lower price, cause October steel market not as good as expected, since September steel market originally should enter the “golden nine silver ten”, and in the fourth quarter tends to steel market traditional peak season, but now is the slack season.
Weng Zhaodong said, the fourth quarter of the market is not prosperous, mainly is the market is still full of some uncertain factors, in addition to the mainland steel mills are in support plate, Japan and South Korea steel mills are also in support plate, China steel will also adopt the way of special price, to help downstream customers to support the export price, so that the steel market will not collapse.
Wen Zhaodong and points out that the recent decline in steel prices continued, many steel mills are facing the edge of the operating loss, and international steel prices are still in the high quality raw materials, steel prices have to the bottom, it fell down, so expect 11 ~ 12 months to recover as soon as possible, otherwise the season only the last two months, don’t hold up, the first quarter of next year as the off-season, coupled with the annual leave holiday such as long, to look forward to the steel market good, really not easy.Therefore, the cautious optimistic look forward to the steel city “chunyan” as soon as possible, so that upstream and downstream manufacturers can have a good year.