China May Steel Output To Increase
China steel futures surged on Monday.
Steel demand from China's downstream sectors has turned "very strong," according to steel and iron ore data scientist Darren Toh of Singapore-based data analytics company Tivlon Technologies.
"Tivlon Technologies is also getting bullish on steel margins over the next 10 weeks," Toh told Reuters.
So far, Vietnam has been a beneficiary of the trade war and Vietnam's largest steelmaker, Formosa Ha Tinh Steel, or FHS is also thinking about putting plans for a third blast furnace on hold, reports Nikkei Asian Review.
According to FHS, the trade dispute could push more inexpensive Chinese-made steel products into Vietnam, Southeast Asia's biggest steel consumer, and cause prices to tumble.
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