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China May Steel Output To Increase

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China steel futures surged on Monday.

Steel demand from China's downstream sectors has turned "very strong," according to steel and iron ore data scientist Darren Toh of Singapore-based data analytics company Tivlon Technologies.

"Tivlon Technologies is also getting bullish on steel margins over the next 10 weeks," Toh told Reuters.

So far, Vietnam has been a beneficiary of the trade war and Vietnam's largest steelmaker, Formosa Ha Tinh Steel, or FHS is also thinking about putting plans for a third blast furnace on hold, reports Nikkei Asian Review.

According to FHS, the trade dispute could push more inexpensive Chinese-made steel products into Vietnam, Southeast Asia's biggest steel consumer, and cause prices to tumble.

Related Links:

Steel Dynamics Warns For Q2 Steel Shipments

Goldman Sachs Downgrades US Steel To Sell

Posted-In: China SteelNews Commodities Global Markets Media

 

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