Motilal Oswal: China’s Steel Consumption Remains Strong
India stands to gain if demand for steel and its prices sustain in China.
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Motilal Oswal Report
Steel trade data released by China suggests demand remains strong, with net steel exports declining to 10-year lows in September 2020.
Moreover, high passenger car sales in September 2020 confirm strong end user demand for steel in China.
China’s domestic steel prices are also on the rise again post the National holidays that ended last week.
We believe strong steel demand and prices in China, if it sustains, would be beneficial for steel prices in the region as well as India.
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