China's steel market in Jun forecasted to remain stable with off-season approaching
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Update time : 2024-06-06 16:27:10
China's steel market experienced a notable rebound in April and May, spurred by robust macroeconomic policies. However, as June unfolds, the transition from the "peak season" to the "off-season" has led to a gradual shift in steel demand dynamics.
Unfavorable weather conditions, including heavy rain and hail across several Chinese cities, are hampering outdoor construction and transportation activities, thereby dampening steel demand.
Despite recent stimulus policies, traders anticipated a delayed impact on market conditions, with significant demand growth not expected until at least the second half of the year. The steel market in June is forecasted to remain relatively stable, with minor price fluctuations and a potential increase in steel mill settlement prices due to rising costs of raw materials.
