Publicado: Apr 26, 2024 07:13
【SMM Steel Market Morning Report: China Iron and Steel Association: Reducing Inventory as Soon as Possible is the Primary Task for the Industry to Maintain Profitability】Jiang Wei, Vice President and Secretary General of China Iron and Steel Association, stated at the 20th Strategic Conference on Steel Industry Development that China's steel industry is currently characterized by "three highs and three lows": high production, high costs, high inventory, low demand, low prices, and low profitability. The main reason for this is the excessive flexibility in supply-side production, which supports upstream raw material prices and suppresses steel prices. Currently, steel companies' inventories are at historically high levels for the same period, and reducing inventory as soon as possible is the primary task for the industry to maintain profitability.

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