Industry News

Steel industry prices fall after the holiday

The steel industry began to resume prices on February 3rd, hampering concerns about the outbreak, the offer fell, but basically no deal, the market is still in a priceless situation.

According to the normal post-festival rework date, February is basically the construction gap period, construction personnel will be the earliest around the 15th of the month, the normal start-up period of demand is also as early as mid-March. And the outbreak of the outbreak is only delayed the return period, and pre-scheduled mid-March still have a certain time gap, so the current price decline is not all caused by the outbreak, but the market itself is in the self-regulating period.

The most closely watched after the festival was the change in inventory. As of February 6, the national social stock of rebar was 8.51 million tons, an increase of 2.54 million tons over the pre-holiday period, 1.98 million tons less than the beginning of February 2019, and 2.81 million tons of wire social inventory, an increase of 1.09 million tons over the pre-festival, 320,000 tons more than the beginning of February 2019. Taken together, inventory pressure is not too big.

Overall, the current spot market is still at a standstill, the current part of the merchant price, although down, but basically there is no market situation, is expected to gradually recover after 10 days.

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