Volatility in steel markets continues to build into the last four months of 2021, with the recent plunges in iron ore prices affecting the wider ferrous supply chain.
Uncertainty about the outlook for the ferrous supply chain continues to build in the Asia-Pacific region, with a number of key determinants still appearing clouded and inconclusive.
What are they and how will they affect the ferrous markets? Find out more below.
Building iron ore reserves
Chinese president Xi Jinping said that China needs to have large national reserves of commodities to match its demand.
"It is necessary to solve the problems of "what", "who" and "how" to store such reserves and organize them systematically," Jinping said at a central committee meeting focusing on reform on August 30.
Jinping also pointed to the need to import a central unified emergency material reserve system, including central and localized production capacities to protect assets and improve regional distribution.
"It is necessary to intensify the supervision of national reserves and give full play to the combined forces of professional supervision,...