Hot rolled steel coil price is rising in the near future. Up to March 5, the average price of domestic hot rolled steel coils was 3879 yuan, up 49 yuan from the same period last week and 104 yuan from the same period last month.
In March, the weather gradually warmed up, the enthusiasm of downstream purchasing was increasing, the turnover of traders was better than last week. With the improvement of Sino-US trade relations on the macro level, China hot rolled steel coil price ushered in a small rise this week. In the future, demand will continue to start in March (Hot rolled steel coil demand is expected to fully recover around March 10). Hot rolled steel coil price is expected to continue to rise next week in line with the government's efforts to expand infrastructure investment this year and the improvement of Sino-US trade relations.
As far as steel mills are concerned, the price of hot rolled steel coil and plate issued by many steel mills has generally increased, which continues to be raised in February. It can be seen that the price of hot rolled steel coil in March is more optimistic at the end of the steel mill. Influenced by the demand effect of building materials, there is an expectation of supply contraction in hot rolling steel products production in steel mills, and the maintenance of tied-up lines in the future may further increase. It is worth mentioning that this week is in the period of the two sessions. Under this circumstance, there is little possibility that the spot market price will fluctuate sharply in the near future. The steel price trend is more likely to show a stable situation. At the end of the two sessions next week, the hot rolled steel coil price may come out of a clear upward trend.
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