Analyst Pin-board Robust steel demand in domestic and key export markets
The steel consumption grows strongly YoY in 1Q2021 due to the support from high demand overseas and recovering domestic construction activities. Finished steel production and consumption (including construction steel, steel pipe, and coated steel) reached 4.6 million tons (+18.2% YoY) and 4.4 million tons (+21.7% YoY) respectively. The export volume grew strongly in coated steel segment, and the domestic market boosted sales in HRC, construction steel, and steel pipe segments. For 2Q2021, we expect export activities will still strong as several coated steel producers received sufficient orders until mid-August 2021. Meanwhile, construction steel consumption is likely to increased QoQ as construction activities are often more dynamic in 2Q compared to 1Q due to the seasonality and infrastructure projects.
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