The global steel industry is ushering in recovery, with output growth and price fluctuations attracting attention
Published on:
2024-03-05 15:22
The global steel industry is ushering in recovery, with output growth and price fluctuations attracting attention
In recent years, the global steel industry has been experiencing a wave of recovery. With the gradual recovery of the global economy and the acceleration of infrastructure construction, the demand for steel products continues to rise, and output has also shown a steady growth trend. However, the recovery of this industry has also been accompanied by price fluctuations, which has attracted widespread market attention.
Global steel production has reportedly grown significantly over the past year. Taking China as an example, as the world's largest steel producer, its steel companies ushered in a wave of construction starts after the Spring Festival. Dick, director of the production management department of Shagang Northeast Special Steel Group Co., Ltd., said that since January, the company's orders and output have improved, with a year-on-year increase of about 10%. Globally, steel companies in other major steel producing countries such as the United States and Europe have also shown similar production growth trends.
However, as production increased, steel prices fluctuated slightly. At a steel spot trading market in Dalian, Liaoning, traders said that the steel market has picked up after the Spring Festival, but the overall steel price has shown a trend of slight fluctuations. According to data from the Shanghai Steel Federation, the steel comprehensive price index rose on the first trading day after the Spring Festival, but then adjusted. Industry analysts believe that this price change is mainly affected by multiple factors such as steel mills shutting down production for maintenance during the holidays, low supply, slowing inventory growth after the holidays, cost support, and central bank interest rate cuts.
The road to recovery will not be smooth for the global steel industry. While production is growing, factors such as price fluctuations, environmental protection policies, and international trade frictions may have an impact on the future development of the industry. However, with the continued recovery of the global economy and the in-depth advancement of infrastructure construction, the prospects of the steel industry are still worth looking forward to.
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