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Mysteel: Demand from downward industry determines GI price trend
Dec 28, 2016  15:20:51
Abstraction: Major SOEs focus on export and end users. For private steel mills and traders, there is no sustainableno sustainable demand capable of supporting continuous growth for GI price. Many believe that the latest surge of GI price was triggered by China's overhyped efforts to fight pollution and cut production. In other words, GI price is likely to decline as the hype fades away. Put it simply, as steel market enters into bleak season and demand for steel turns weak, current GI price seems artificially overhigh. Therefore, more attention should be paid to the risk of possible price corrections.
December used to be a bleak season when steel traders start to collect receivables for next year’s sales plans. However, 2016 turned out to be an unusual year. In the first half of this month, smog pushed Chinese government to strengthen fight against pollution, and mills with medium frequency induction...

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