In February, China's Purchasing Managers' Index (PMI) showed an increasing trend. The policy package to stabilize the economy and the eased Covid-19 epidemic made China's economy gradually recover.

Regarding the steel market, the recovery of the manufacturing industry and the launch of construction of some big projects increased steel demand.

In terms of supply, the increasing demand for steel was expected to make the prices up. Therefore, the steel mills' profits improved, and the production was expected to keep strong. Besides, the high raw material prices maintained the steelmaking cost at a high level.

7 Mar 2023 16:40 reported by Stanley Wang