The first half of 2023 has almost passed, and Chinese steel enterprises maintain a stance to shrink production and business scale to prevent further losses.

Trading companies felt the obvious disparity of lowered demand compared to past years, and monthly outward shipments also declined. In comparison, the number of construction projects in Beijing this year has also decreased significantly; some would only start in May or June, with delays to turnaround times.

Steel's price in June is crucial; if it rises too quickly, risks in July are huge. However, if the price maintains, then steel enterprises are hard to compensate for the loss in the first half. Market outlooks are optimistic regarding steel uses in home appliances, automotive, marines, and energy industries, and prices may steadily rise.