AOCE said an uncertainty surrounding the rate of China’s steel output growth in 2023 is whether, and to what extent, the Chinese Government chooses to cap steel production levels over the rest of the year.But the outlook for US steel demand in the second half of 2023 contains downside risks.AOCE said India’s steel production is forecast to grow 6.Research agency BMI said it expects production to increase in the fourth quarter, improving supply and extending to the first quarter of 2024, driven by Chinese steel mills.“Global steel producers are expected to face subdued demand and moderating prices over the rest of 2023,” it said.
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