Five takeaways from s&P global Platts’ Ferrous & steel outlook Conference

摘要

Melbourne—S&P Global Platts hosted its Ferrous & Steel Outlook Conference in Singapore last week. Here are five key takeaways from the event: 1. winter steel production cuts are less of a concern than China’s property sector Chinese mills have been less inclined to restock iron ore for fear they will be ordered to cut crude steel or sintering production over winter to reduce emissions, which would curb demand for iron ore and pull down prices. S&P Global Platts China steel analyst Zhang Jing argued that winter output cuts are likely to be fairly mild this winter. Steel production rates will depend on margins that will largely be driven by property construction demand. Citigroup head of iron ore trading Habib Esfahanian said China’s property sector should grow around 4%-5% next year, helping to support iron ore prices in the range of $70-$90/mt CFR.