According to the announcement from JSW Steel, one of the largest steelmakers in India, the global increasing steel output might pressure the price increasing trend.
In 2020, the strong Chinese domestic steel and iron ore demand has pushed the market price to a new high. Among them, the rebar and hot-rolled coil futures prices both increased by over 30% from 2019.
However, followed by the high-inventory level, the market expected the prices would turn stable because the construction activities also decrease.