hollow section current market price

According to the international indicators, to measure a country’s internal demand situation, mainly look at its apparent consumption status?According to statistics, in the first 10 months of 2019, China’s total apparent consumption of pipe black steel was about 781.53 million tons, up 8.2% year on year. China’s steel demand is expected to remain strong in the next few months, with the apparent consumption of crude steel around 930 million tons, up more than 6% over the previous year.This suggests strong domestic demand growth for Chinese steel in 2019, rather than weak demand.The strong growth of China’s domestic steel demand in 2019 is mainly driven by two forces:

First, the pattern of domestic economic growth remains unchanged. Since the beginning of this year, policy makers have intensified counter-cyclical adjustment to ensure that China’s economy continues to grow rapidly. It is estimated that the economic growth rate for the whole year will reach 6.1%, which is within a reasonable range. This has laid a solid foundation for the continued expansion of China’s steel demand of China hollow section tube. Second, investment growth remains the same. Statistics show that in the first 10 months of 2019, China’s investment in fixed assets increased by 5.2 percent year-on-year, including 4.2 percent in infrastructure. Although the growth rate slowed down, it was still growing. In particular, investment in real estate development increased by 10.3 percent.
Third, export demand of galvanized steel pipe has weakened significantly. In 2019, downward pressure on the global economy increased, trade protectionism rose, the trump administration of the US even provoked a “trade war”, and the environment for China’s external steel demand deteriorated. As a result, China’s steel exports fell. Statistics show that from January to October 2019, China’s steel exports dropped 5.8 percent year-on-year to 55.087 million tons. Steel exports are expected to decline for the full year.

Fourth, total consumption of steel electrical conduit remains robust. Strong growth in China’s domestic steel demand has wiped out the export drag, leaving China’s total consumption of steel (domestic demand plus export demand) to remain robust in 2019. According to statistics, in the first 10 months of this year, the total demand for crude steel in China was about 840 million tons, up about 8% year on year. China’s total demand for crude steel is expected to approach or reach 1 billion tons for the full year. China’s total consumption of crude steel is robust in 2019, which can also be verified by changes in the level of steel inventory.