Inventory and demand will support steel prices in the short term

Release time：Jul 01, 2019 From：admin

Ian Roper, general manager of SMM International, said steel prices are likely to maintain their current momentum until the fourth quarter of this year due to limited fundamentals.

Refinitiv held a seminar on metal market development in Singapore on Thursday, June 13. At the seminar, Roper emphasized that steel prices and profits performed well as strong steel demand assimilated the impact of increased supply.

Looking ahead, Roper believes that the key to the steel market lies in "how fast the growth of the construction sector slows down, whether infrastructure stimulus and the recovery of the private housing sector can offset the impact of the decline in housing reform". "Steel profits will continue to be a key factor affecting iron ore prices," he added.

In the context of trade disputes, China's emphasis on infrastructure and real estate has led to a divergence in commodity prices, with the black system performing better than non-ferrous metals. Non-ferrous metals such as copper and nickel continue to face downstream and weak consumer demand. (Source: Shanghai Nonferrous Network)