Features
CRU: Cisa calls on steel makers to reduce stocks
Written by CRU
May 14, 2024
The China Iron and Steel Association (Cisa) has urged steel producers to cut back on record high inventories while the sector struggles with oversupply.
In late March, stocks were 18.34 Mt, up 11% year-on-year and an all-time high for the period.
Though crude steel output was 1.9% lower y/y at 257 Mt, apparent consumption fell by a greater amount, 4.6%, Reuters news agency reported Cisa as saying.
A protracted property crisis and slowing infrastructure demand growth has reduced demand for steel in China.
This article was originally published by CRU. Learn more about CRU’s services at www.crugroup.com.
Latest in Features
Final Thoughts
After a March frenzy, are prices nearing a peak in April? Some of you have suggested that they are. Others think it's too early to make any such call.
European Commission eyes stricter limit on tariff-free steel imports
The European Commmission is reducing the amount of tariff-free foreign steel that can enter the EU.
Trump says exceptions could exist on reciprocal tariffs
President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.
Final Thoughts
Have we hit a bit of a lull when it comes to the recent price bump? Mills certainly capitalized on the threat of tariffs and the unknown, with much that still could unfold.
SMU Survey: Steel buyers maintain confident market outlook
SMU’s Buyers’ Sentiment Indices showed mixed movements this week but remain strong, reflecting continued confidence among steel buyers.