Both Steel Supply and Demand Tightened In April Despite Peak Season

The steel industry PMI surveyed and released by the Steel Logistics Professional Committee of the China Federation of Things stood at 45% in April 2023, a month-on-month decrease of 3.4 percentage points, falling for two consecutive months. This shows that the operation of the iron and steel industry has slowed down.

The changes in the sub-indexes show that the market demand has tightened, the production of steel mills has dropped, the price of raw materials has dropped significantly, and the price of steel products has fluctuated downwards. Overall, the peak season of the steel industry is not busy.

It is expected that in May, the supply and demand ends of the steel market may continue to decline slightly. The price of iron ore will continue to fall, and the price of steel will edge lower.