China’s crude steel production during Jan-Sep’20 was recorded at 781.6 mn t, up by 4.5% y-o-y backed by robust demand from different sectors. Domestic auto sales increased 17% m-o-m and 13% y-o-y in Sep. Iron ore and pellet imports were up 11% y-o-y. Steel exports fell by 20% on higher domestic prices whereas imports surged by 72% y-o-y. WSA forecasts Chinese steel demand to increase by 8% in CY’20, aided by govt. infrastructure stimulus and a strong property market.
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