The US-China trade war, sluggish global economy and a prolonged subdued demand took the sheen of steel in recent times but brokerages and experts are now seeing a glint of revival in the sector.In a report on December 6, Edelweiss Securities said that the US-China trade war had not curbed steel trade in Asia. Besides, China’s production rate had likely peaked and the construction demand in the first half of the calendar year 2020 could even surpass the estimates.Also, low raw material prices are helping maintain the margins in China. All these factors augur well for steel manufacturers, as a stable market balance in China is critical for them.Close “Apprehensions of China upsetting the steel applecart are overdone due to limited capacity increase (38mt) through to calendar year 2023 and steady growth in construction and infrastructure segments, which is 52 percent of demand,” said Edelweiss Securities. related news ‘Investors with long-term horizon can look at increasing allocation in small & midcaps’ Lucky 3! These Nifty50 stocks outperformed in 2019; time to book profits? “Despite tepid auto sector growth in CY20, we expect growth in property construction to drive consumption.”Edelweiss points out that iron-ore prices have stayed robust in calendar year… Read full this story
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