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Baosteel: China's hot rolled steel demand in Q3 to remain slack, to rebound in Q4-金屬展-冶金展-2025廣州巨浪國際金屬暨冶金工業展覽會
-巨浪展覽-2025 China (Guangzhou) Int'l Metal & Metallurgy Industry Exhibition
9/2/2024 金屬展-冶金展-鋼鐵展-steel expo-metal & metallurgy expo |
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On August 29. Chinese maior steelmaker Baoshan lron and Steel Co.. Ltd. held an interim results briefing for the January-juneperiod this year, in which the company stated that the demand for hot-rolled products may remain slack in the third quarter amidthe ongoing poor performance in real estate industry and weak sales in vehicles and commercial trucks sales, as well as somesoftening in the shipbuilding industry. However, the demand might indicate a rebounding trend in the fourth quarter amid thecondition for construction activities likely seeing improvement."it is expected that the national economic stabilization measures willbe further implemented, which will help to boost market demand. Therefore. we judge that the market situation in the third quarterof this year is relatively severe, and demand will rebound moderately in the fourth guarter," a company said in the briefing.In 2024, the company plans to sel 52.22 milion mt of steel with sales volume reaching 25.51 milion mt in the first half. decliningonly slightly by 0.19 percent. In the second quarter, sales amounted to 12.99 milion mt, down 3.41 percent year-on-year.
Moreover, exports of the company in the first half of 2024 hit the historical high of 3.035 milion mt. "The company''s export productsare rich in categores, including high-strength automotive steel plates, marine and shipbuilding thick plates, silicon steel. high-endnome appliances nars and other hioh-end products, These products account for a relatvely hioh porion of the total export yolume
and it is not a simple volume-based model" the representative said.Due to the increase in tariff barriers and the rise of international trade protectionism, there is a certain degree of uncertainty inexports in the second half of the year. Baosteel said.
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