Report: Baosteel expects China's demand for steel to decline in 2018 -Shanghai Metals Market

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Report: Baosteel expects China's demand for steel to decline in 2018

SMM Insight 04:05:21PM Apr 11, 2018 Source:SMM

Steel prices are likely to be lower in 2018 as Chinese demand is expected to be weaker, according to Baoshan Iron & Steel's (Baosteel) chief financial officer, Wu Kunzong at the company's annual performance conference on April 10. 

Regulations in China and the escalating US-Sino trade tension will affect China's steel exports and demands. In 2017, China launched a series of policies to reduce cut excess capacities in steel production. This bolstered prices of steel and operating income at Baosteel grew 17%. The company saw an operating income of 289.5 billion yuan and net profits of 19.1 billion yuan last year. 

China produced 830 million mt crude steel in 2017, up 5.7% from 2016.


For editorial queries, please contact Daisy Tseng at daisy@smm.cn 
For more information on how to access our research reports, please email service.en@smm.cn

Key Words:  Baosteel   steel demand 

Report: Baosteel expects China's demand for steel to decline in 2018

SMM Insight 04:05:21PM Apr 11, 2018 Source:SMM

Steel prices are likely to be lower in 2018 as Chinese demand is expected to be weaker, according to Baoshan Iron & Steel's (Baosteel) chief financial officer, Wu Kunzong at the company's annual performance conference on April 10. 

Regulations in China and the escalating US-Sino trade tension will affect China's steel exports and demands. In 2017, China launched a series of policies to reduce cut excess capacities in steel production. This bolstered prices of steel and operating income at Baosteel grew 17%. The company saw an operating income of 289.5 billion yuan and net profits of 19.1 billion yuan last year. 

China produced 830 million mt crude steel in 2017, up 5.7% from 2016.


For editorial queries, please contact Daisy Tseng at daisy@smm.cn 
For more information on how to access our research reports, please email service.en@smm.cn

Key Words:  Baosteel   steel demand