The country's steel prices have experienced a significant decline in factors such as the economic downside risks, the continued decline in the manufacturing sector's performance, and China's structural transformation.

 

Therefore, after a sharp adjustment in January and February, the advantage of low steel prices in China in the short term will remain prominent.

 

It is expected that the short-term in-term and spot prices have already exceeded the market. The recent stabilization of the 310S stainless steel plate price is a normal reaction of the market. If the contradiction between spot supply and demand is still not relieved, the market rebounds or needs a process of gaining momentum.

 

Judging from the market feedback, after the oversold in the past few days, the market gradually returned to rationality, but due to the complete improvement of the market short-term ideas, the rebound in spot prices was weak.

 

In this regard, the industry said that the current price of steel is mainly based on the adjustment of the economic structure, although the steel market will show an oversold rebound in the short term, but in general, the spot price will continue to oscillate around the low level.

 

It is also understood that the current market capital pressure still exists, and it is not ruled out that the steel price will once again suffer from the cash-out after a small rebound.

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