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China’s rising HRC capacity weighs on margins but favors downstream sector

September 20, 2023 Comments Off

With China’s shift from long steel production to flat steel continuing in 2023 amid more brand-new hot strip mills coming on stream, profit margins for hot-rolled coil face pressure, but this has lent support to the downstream sector, according to market sources. The rise in flat steel production in tandem with the capacity expansion is in line with the economy’s…