FX.co ★ Steel Holds Steady as Outlook Mulled

Steel rebar futures stabilized at approximately CNY 3,130 per ton, maintaining their position within a long-term stable range. This steadiness comes as traders evaluate the global supply and demand equilibrium. According to the World Steel Association, global crude steel production fell by 2% during the first eleven months of 2025, highlighting uneven production conditions across key regions. In China, steel output has continued to decline, driven by weaker demand from downstream industries and intensified governmental efforts to manage overcapacity. Conversely, India's steel production surged over 10% during the same period, spurred by government initiatives supporting domestic producers. The Indian government has plans to increase steelmaking capacity by 50%, aspiring to reach 300 million tons by 2030. Concurrently, Chinese policymakers have indicated forthcoming measures to stimulate economic growth, focusing on efforts to support the nation’s challenged property sector.