Although the China spot steel price is still slightly rising, indicating that the "toughness" of market demand is still in place, the adjustment factors still exist. The iron ore market is also under pressure to pull back, and port stocks have declined.
In the last week, the China spot steel price composite index closed at 149.56 points, up 0.19% in a week. Among them, the overall steel plate market has risen slightly, the price of hot rolled steel coil has risen, the average price of hot rolled steel products in the main market in China has risen by 5 yuan per ton per week, and the average price of medium and heavy plate has risen by 5 yuan per ton per week.
Specifically look at the track of a week, although the overall slightly upward, but to the end of the week, the market quotation shows signs of weakness, steel plate quotation has a downward trend. Only with the rebound of futures market, market sentiment has improved slightly and trading volume has gradually increased. At present, the market demand is still resilient, but the pressure of steel price callback also exists.
Relevant organizations believe that there is a certain "fear of heights" mentality in the steel market, and the release rhythm of downstream demand has slowed down. Driven by high profit margins, steel mills are more active in production, and subsequent supply-side pressure will continue to increase, and the steel market will face certain callback requirements.
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