There are three highlights in the current Chinese steel market:
The first highlight is that the steel consumption industry is growing faster than the average, especially the new steel consumption products.
The second highlight is that in fixed asset investment, the growth rate of infrastructure investment and manufacturing investment is significantly higher than the average investment level.
The third highlight is that steel exports exceeded expectations, including direct and indirect steel exports.
Consumer demand is very resilient.
Although the real estate data in October was weak, which slowed down the overall investment growth, due to the existence and effect of some supporting factors, it is expected that the growth rate of fixed asset investment, including real estate investment, will continue to recover, so there is reason to be cautious and optimistic about the future steel market.
At the same time, it should be noted that the release of excessive domestic production supply is still the biggest pressure on the steel market at this stage.