Save China Steel Cycle
At the beginning of a steel cycle, new orders and production increase, inventory decreases. When demand from construction and manufacturing slows down, steel cycle comes close to an end, during which steel production decreases and inventory rises.
There have been 5 steel cycles since 2006, except when in 2019, iron ore was undersupplied due to natural disasters in Brazil and Australia, and inventory and production of steel went down because of shortage of raw material.
China PMI, Steel: New Orders + Production (L)0.00
China Steel Sector Finished Goods Inventory Index2021-0543.40