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China steel sector sees higher demand in second half, calls to fend off import surges

Finance Yahoo - Chinese major steel producers had suggested to prevent sharp increase in imports of the industrial metals and to relax purchase of overseas steel scrap, the China Iron and Steel Association (CISA) said on Wednesday.

Nine steelmakers, including the biggest China Baowu Steel Group, Shougang Group and Ansteel Group raised concerns on the steel market amid the coronavirus disruptions and rising production costs, the companies said at a conference held by the CISA on Sept.9.

"The steel sector will see increasing demand, sufficient supply, easing but still high inventories, falling but stabilising performance in the second half of the year," the steel body cited the companies as saying.

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