China's steel winter balancing act to decide Asia's fortunes

摘要

China's balancing act in supporting demand on one side and curbing output on the other may determine the fortunes of regional markets this winter. Its looming step onto the highwire comes after China single-handedly held up global steel prices with its rare buying spree in summer and autumn. Winter sees a number of seasonal factors come into play in China, like softer construction demand, mandated output cuts to combat pollution and, at its tail end, restocking ahead of the Lunar New Year, which falls on Feb. 12 in 2021.