Report: Excess Steel Inventory Poses Major Challenge to Chinese Producers
03/23/2020 - China’s steel market will have to confront a crushing tidal wave of steel that is sitting in inventory and likely to put tremendous pressure on prices this spring, reports commodities news and pricing service S&P Global Platts.
Platts estimates that finished and semi-finished inventories could reach 100 million metric tons by the end of the month, triple the amount in inventory last March, it said.
“It also equates to more than a month of domestic consumption in the strongest month of 2019, which was 81 million metric tons in December,” Platts said.
Platts has more here.
“It also equates to more than a month of domestic consumption in the strongest month of 2019, which was 81 million metric tons in December,” Platts said.
Platts has more here.
