The world’s economic risks are clustered, and China’s steel industry faces opportunities and challenges.

From April 12th to 14th, the “15th Steel Industry Development Strategy and Steel Products Production and Demand Seminar” was held at the Shanghai Pudong International Conference Center. More than 1,000 representatives from more than 600 units including national ministries and commissions, industry associations, domestic and foreign steel and upstream and downstream enterprises, e-commerce companies, financial investment and research institutions, experts and scholars attended the meeting.

 

For the domestic steel price in 2019, Wu Zhi, chairman and general manager of Steel House, said at the meeting that China’s steel output continued to increase in 2019, and the domestic steel market demand grew steadily. The balance of supply and demand throughout the year depends on capacity release and exports. In 2019, the average domestic steel market price will be lower than 2018, while the average price of the raw fuel market is higher than 2018, and the economic benefits of steel enterprises will fall sharply. In the second quarter, the domestic steel market price rebounded to above the annual average price level. He believes that the high-priced zone for the whole year is expected to appear in the third quarter of this year.

 

On the macro level, for the economic situation in 2019, Hou Chunyun, member of the National Committee of the Chinese People’s Political Consultative Conference and president of the China Enterprise Evaluation Association, believes that the global economic growth rate is inevitable, and it is more pessimistic than the beginning of the year. The United States no longer raises interest rates, and the economy faces more uncertainty. Secondly, China’s economy is stable and the trade war is coming to an end. Both China and the United States have signs of concession.

 

“From the current situation, the Sino-US economic and trade negotiations, the postponement of the Brexit, the risk of the US economic recession, and the shift of the Fed’s monetary policy will have a greater impact on the world economic trend and financial market stability this year.” China Academy of Macroeconomic Research Long Biji Yao said.

 

In Bi Jiyao’s view, there are three risks facing the current world. First, the US’s global manufacturing trade friction poses a huge risk to the stable growth of the world economy. Second, the shift in the Fed’s monetary policy is likely to trigger new financial risks. Third, the frequent occurrence of geopolitical conflicts and the intensification of the game of big countries have brought many unstable and uncertain effects to the world economy. However, Bi Jiyao said that despite the current various risks, the world economy will continue to recover in the midst of major adjustments and major changes.

 

Source: Network

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Post time: Apr-22-2019
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