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CSI: Chinese steel demand will still grow in 2023

CSI: Chinese steel demand will still grow in 2023 (June 7, 2023)

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Now that the panic in China’s steel markets has subsided, it is time to re-evaluate our assumptions for 2023. There is a clear need for downward revisions to the more optimistic outlook at the start of the year. However, demand is not as bad as sentiment and revisions should not be exaggerated.

More important is the impact on the rest of the world, and on the long-term outlook for China. The trade balance should become much more supportive for steel markets outside of China, while some medium-term stability may also help reassure overseas markets.

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