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Baosteel: China's hot rolled steel demand in Q3 to remain slack, to rebound in Q4-THE 25th CHINA(GUANGZHOU) INTERNATIONAL PLATEMETAL, BAR, WIRE, METAL PROCESSING & SETTING EQUIPMENT EXHIBITION
9/2/2024 金属板材展-线材展-金属加工展-plate metal expo-wire expo |
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On August 29, Chinese major steelmaker Baoshan lron and Steel Co., Ltd. held an interim results briefing for the january-Juneperiod this year, in which the company stated that the demand for hot-rolled products may remain slack in the third guarter amidthe ongoing poor performance in real estate industry and weak sales in vehicles and commercial trucks sales, as well as somesoftening in the shipbuilding industry. However, the demand might indicate a rebounding trend in the fourth quarter amid thecondition for construction activities likely seeing improvement. "it is expected that the national economic stabilization measures willbe further implemented, which will help to boost market demand. Therefore. we judge that the maket situation in the third quarterot this year is relatively severe, and demand wll rebound moderately in the fourth guarter," a company sald in the brietingIn 2024, the company plans to sell 52.22 milion mt of steel with sales volume reaching 25.51 milion mt in the first half, decliningonly slightly by 0.19 percent. In the second quarter, sales amounted to 12.99 milion mt, down 3.41 percent year-on-year
Moreover, exports of the company in the first half of 2024 hit the historical high of 3.035 milion mt. "The company''s export productsare rich in categories, including high-strength automotive steel plates, marine and shipbuilding thick plates, silicon steel, high-endhome aoolances paus and other hioh-end products these products account tor a relatvely hioh potion otthe total exoor volumeand it is not a simple volume-based model," the representative said.
Due to the increase in taiff barriers and the rise of intemnational trade protectionism, there is a certain degree of uncertainty inexports in the second half of the year, Baosteel said
金属板材展-线材展-金属加工展-2025第二十五届广州国际金属板材、棒材、线材及金属加工、配套设备展-THE 25th CHINA(GUANGZHOU) INTERNATIONAL PLATEMETAL, BAR, WIRE, METAL PROCESSING & SETTING EQUIPMENT EXHIBITION
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