CSI: China enters the calm before the storm

CSI: China enters the calm before the storm (Nov. 9, 2023)

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China has had a difficult year. Although the end of the year is being marked by new supportive government measures, steel demand has picked up only slightly in the traditionally strong autumn. Steel output meanwhile has declined, but not enough to balance the market. 2023 is now likely to end with more of the same.

2024 in all probability will also be a difficult year. We expect however that there will be a modest recovery in demand if the government can stabilize economic sentiment. Next year is likely to confirm China’s entry into its steel demand plateau, before it faces a longer-term decline.

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CSI: China enters the calm before the storm (Nov. 9, 2023)

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