|
|
| |
|
|
Chinese steel demand has likely peaked - Baowu Steel Chairman-2019 China(Guangzhou)Int’l Metal & Metallurgy Ex
hibition-metal exhibition
11/8/2018 金屬展-冶金展-鋼鐵展-steel expo-metal &metallurgy expo |
--------------------------------------------------------------------------------------------------------------- |
|
Bloomberg reported that China’s top steel mill Baowu Steel says That domestic usage has probably hit a peak and will stabilise at these levels, as absolute growth in the economy offsets changes in the nature of demand. Mr Chen Derong, chairman of China Baowu Steel Group Corp, said "The Chinese economy is moving from high-speed to high-quality growth, but the growth is still certain and the growth rate globally isn''t low. That''ll counter the broader re-balancing away from investment and toward consumption, and lead to stabilised circumstances for an extended period.”
Mr Chen however said “Still, prices remain relatively buoyant, indicating that the economy is doing fine and that domestic demand is resilient.”
His view suggests that consumption is moving in sync with production, which other commentators have forecast will top-out this year before falling in 2019.
Prices in China have surged to a seven-year high in the summer, bolstered by capacity cuts and an environmental crackdown. The risks to demand have since been piling up as China jousts with the US over trade. Economic expansion slowed to 6.5 per cent last quarter, its weakest pace since 2009, while imports of iron ore, the raw material for steel, contracted in the first nine months of the year.
金屬展-冶金展-2019廣州巨浪國際金屬暨冶金工業(yè)展覽會-亞洲最大金屬冶金展-巨浪展覽-2019
China(Guangzhou)Int’l Metal & Metallurgy Exhibition-metal exhibition
-metal exhibition Metal exhibition, Metal
expo, 2019 Metal exhibition, 2019 Metal expo, China Metal exhibition, China
Metal expo, steel exhibition, steel expo, 2019 steel exhibition, 2019 steel
expo, China steel exhibition, China steel expo
|
|
|
|
|
