Analyst Pin-board Construction steel industry – Opportunities are coming, but manufacturers’ gross margins can diverge
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· Domestic consumption can grow in 2022 owing to public investments and the re-opening of the economy. · Exports are playing a more important role as a resilient supply and competitive production costs allowed exporters to seize short-term chances in 2021. · Construction steel companies’ gross margins can diverge as material prices are moving in opposing trends, favoring basic oxygen furnaces. The weak demand-supply in China led to lower iron ore consumption, leading to lower ore prices. Meanwhile, the reducing pollution trend has been boosting the global demand for scrap steel, supporting this material price at a high level. |
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