Steel sector to see limited impact from external woes

High costs: An employee monitors molten iron being poured into a container at a steel plant in Hefei in the Anhui province. Steel prices in overseas markets have surged amid concerns over supplies. — Reuters

BEIJING: Adding more strain to global steel supplies and price inflation of raw materials, the Russia-Ukraine conflict has increased China’s steel production costs.

Yet experts said as domestic steel market expectations level off amid Chinese authorities’ efforts to ensure stable economic growth, the domestic steel industry is well-poised for healthy development despite such external factors.