On May 12, the domestic steel market price fluctuated weakly, and the ex-factory price of Tangshan common billet rose 20 to 4,660 yuan/ton. Today, the black futures market fell across the board. Coupled with the impact of heavy rainfall in southern and eastern China, the market mentality deteriorated and the trading volume shrank significantly.
Due to the loss of some steel mills, steel mills in Guangdong, Yunnan, Guizhou and other places have intensified their production reduction efforts, and the expansion of the supply side has been suppressed. At the same time, the heavy rain in the south combined with the severe and complicated domestic epidemic situation, and the overall demand for steel this week was weak. With the gradual improvement of the epidemic prevention and control situation, it is expected that the demand will pick up next week. Short-term steel prices fluctuate weakly, and once demand improves, there is still room for steel prices to rebound.
Post time: May-13-2022