Steel industry news

China's giant steel industry is having difficulty reducing carbon emissions due to slowing market demand and low recycling rates.

Pressures from weak domestic market demand have prompted Chinese steelmakers to boost steel exports at cheap prices.

Steel manufacturing businesses are waiting for recovery from the real estate industry and the government's continued promotion of public investment.

Steel consumption is forecast to increase by 6% this year after a sharp decrease in 2023. In particular, steel exports continue to grow thanks to expectations of recovery in world steel demand.

According to experts, China and India's coal consumption continues to increase even as they set ambitious renewable energy goals.

The rise in iron ore prices on the Singapore Exchange suggests that Beijing may be trying to contain domestic prices, but it will be difficult to control international prices, especially if there are fundamental reasons supporting ore prices higher iron.

The domestic construction steel market begins in the construction season and partly comes from solutions to promote disbursement of public investment capital, which is the factor that helps Hoa Phat's consumption increase.

Green steel is the steel industry's destination on the path to net zero emissions.

Steel prices in the domestic market are expected to be under slight downward pressure in the fourth quarter as domestic demand remains weak, export activities slow down, and competition from Chinese steel.

Over the past year, the factory has made several production line improvements; Investing and putting into operation roll forming machine No. 3, increasing roll forming capacity, ensuring redundancy for continuous production.