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Steel prices in China are rising sharply
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Time time, China, country steel solutions, trying to resolve the excess of the state of the efficiency of this industry ...
Steel prices in China are rising, prompting the government to worry about finding the right spot for the steel market, CNBC said.
Time, China, the largest country in the world, has been trying to solve the redundancy of this work. This is part of Beijing's economic transition economy due to its dependence on heavy products and industrial production. China's use of power cuts in the United States as well as Europe has historically forced the country to dumping, allowing state-owned producers from other countries.
In March, the Chinese government announced a plan to reduce the capacity of a planned attack of 50 million tons this year, as part of its efforts to reduce labor and to limit steel status. Experts say that developing countries will also be pushed up by rising steel prices in China.
Do not main with this condition that the center of China should be lover about the variable of the field field. Not only is the world's largest steel producer, China is also the largest steel consumer in the world. High prices mean the benefits to steelmakers, but it also means higher costs than industries such as construction.
Sources from the China Iron and Steel Association said that this week, the Chinese government will meet with government agencies and leaders on rising prices.
For Beijing, this is an uneasy situation: they just have to deal with the company's excesses in the steel industry, having to consider economic growth, in sync with the polluted environment and keeping the stabilization for Field.
Since the beginning of the year, the rebate prices have been trading up sharply on the Shanghai Futures Exchange. In particular, the September contract rebounded by 40%, reaching 4.131 yuan per tonne on Aug. 10, according to Reuters data.
This Monday, coil prices in Shanghai rose 5% after Hebei Province announced new technical measures for its provincial output at half capacity in the winter months. Hebei is home to almost a quarter of China's total production in the first six months of this year.
In the long term, analysts say companies and steel prices in China will continue to rise due to this country and the decline in capacity of steel capacity. Nomura said that the country's prescribed Chinese method would reduce the country's raw water output by 5-10%.
In such a context, China's steel exports are likely to fall, after falling in July - according to Charles Bradford, metals analyst for Bradford Research.
"The Chinese steel mill's products have had a doldrum in time to solve the environmental problem, but we believe that the reduction in the volume of products that make the recent restriction regime will be large compared to those times." Cut back on the past, "said Nomura analysts.
For steel, this is a good year for the economy.
S & P Global forecasts Indian steelmaker Tata Steeel will reach a new high for the rest of this year. The profit from the export of the companies in Japan will be improved. South Korea's steel industry will benefit from less imported water from China, as it is a major importer of Chinese steel and Korean steelmakers have been competing with rivals in China.
Baoshan Iron and Steel Co.'s share price has fallen by about 3% in the morning session, but has increased about 30% so far this year.
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24/1/2025
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