Chinese steel prices stabilize and rebound

In the first half of this year, under the influence of factors such as multiple domestic epidemics, geopolitics, overseas economic downward pressure and the Federal Reserve's interest rate increase, the downward pressure on China's economy increased, and major economic indicators such as infrastructure and real estate investment dropped significantly. As a result, the demand for steel fell sharply, the market supply and demand imbalance, and the steel price fell sharply.

After entering the second half of the year, under the continuous force of the spontaneous large-scale production reduction and stable growth policy of steel mills, the output began to decline, the demand gradually rebounded, the market supply and demand gradually improved, and China's steel prices also began to stabilize and rebound.