Metallurgical Industry Planning and Research Institute (MPI) in its annual report has forecasted that steel production may fall by 3.1% to 781 MnT next year. Besides, today Dalian Commodity Exchange up by 1.9% to RMB 293.50 (USD 46).
Dalian commodity exchange today has risen by 1.9% to RMB 293.50/MT (USD 46/MT) for May’16 deliveries after touching an all time low of RMB 284/MT on Friday. Similarly on Shanghai Future Exchange, the most active rebar contract rose by 1.3% to RMB 1,664/MT; fell to an all time low of RMB 1,618/MT last week.
Metallurgical Industry Planning and Research Institute (MPI) in its annual report has forecasted that steel production would fall by 3.1% to 781 MnT next year. That will cut China’s demand for iron ore by 4.2% to 1.07 BnT, the MPI said.
Consumption of steel products is expected to fall to 648 MnT in 2016, which fell by 3% in 2015.
Leave a Reply