Marginal differentiation of steel demand in China

In November, construction activities were steadily promoted, investment increased rapidly, and manufacturing production remained high. The strong demand of the steel industry downstream digested part of the social inventory, especially the steel plate stock, which has been reduced to a relatively low level, and the market supply pressure has eased to some extent.

As the temperature drops, the construction industry enters the construction off-season, and the demand for building steel will decline seasonally; driven by the internal and external demand, the PMI of the manufacturing industry will reach a new high in the year, the production will maintain a high level, and the strong demand for steel will continue. It is expected that the overall steel demand in December will show a trend of differentiation, the marginal demand for building steel will weaken, and the demand for steel plate and strip will be relatively stable.