Chinese steel prices are holding at four-year highs even as levels look tense, given the government's efforts to maintain stability ahead of the ruling party's meeting in the fall and long-term plans to cut production.
“We see this as a bubble,” said Kirill Chuiko, strategist at BCS Global Markets in Moscow. "But the situation is likely to persist for another couple of months as the Chinese stimulus should remain in full force until the China National Congress at the beginning of the fourth quarter."
The Communist Party Congress, held every five years, will be chaired by Chinese President Xi Jinping as the country struggles to maintain economic expansion while increasing incentives leaves it overly dependent on production for growth.
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Metallurgy news
- 25 December 2025
17:00 Japan's scrap steel exports increased by 20.8 percent in January-November 2025 17:00 Canada imposes Preliminary AD duties on OCTG from five countries 16:00 CBAM could cost UK industry £800m annually as the EU rules out tax relief. 16:00 The production of base metals in Taiwan in November 2025 decreased by 4.05 percent compared to October 14:00 ArcelorMittal resumes steel production in Fos-sur-Mer after October fire 14:00 China launches its first near-zero million-ton carbon steel production line 13:00 AHMSA sells US pellet plant for $5 million 13:00 TCUD: Fractures in global crude steel production deepen
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