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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2020 | Steel Forecaster


Steel Forecasts: Febraury 2020


We have downwardly revised our Chinese domestic and export price forecasts for the first half of the year but expect that as normal activity resumes steel prices will rise back to levels we previously anticipated.

The spread of the coronavirus and quarantine measures in China had an immediate impact on the steel market in China. The government extended the Lunar New Year holiday until February 3 or 10 (depending on a region), while some cities were put under a lockdown. While blast furnaces continued to operate (although some Chinese mills reduced production rates), manufacturing firms and construction sites remained closed for longer than usual. This had led to a build-up of steel stocks, with a particularly sharp rise of inventory levels...

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