On March 4, China's medium and heavy steel plate market prices rose slightly. The national average price of 20mm steel plate was 617 yuan/ton, 4 yuan/ton higher than the 3th average price.
In the short term, although the output of steel mills has increased, there is limited room for further growth in the near future with the reoccurrence of pre-maintenance steel mills in major regions. After the market inventory is reduced, some gaps in specifications will periodically cause the price support caused by the market shortage.
In addition, the decline of steel manufacturer's inventory is larger than that of social inventory, and there will be market centralized arrival pressure in the follow-up. At present, the accumulative stock of some low-alloy steel products shows that the demand of downstream steel structures is weakening in the near future. Although the demand of some wind power projects is still acceptable this year, the gap is still lacking in other downstream areas to supplement the overall proportion of medium and heavy steel plate products. China's medium and heavy steel plate market is expected to continue to grow stronger in the short term.
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