Analysis: China's steel market sees near-term prices rising

摘要

China's steel market is coming into a seasonally stronger period due to construction activity picking up, and a number of government initiatives – such as cutting the VAT rate and incentivizing property and manufacturing segments – have provided some cause for optimism. That said, mills and traders expect some resistance from buyers, along with increased competition in export markets, but are keen to maintain their price levels. Chinese steel market sentiment weakened in March on expectations of softer orders in the coming month, according to the latest S&P Global Platts China Steel Sentiment Index (CSSI), which showed a headline reading of 33.18 out of a possible 100 points in March.