Strip Market Report May 2014

Most steel mills cut their ex-works prices in the first two weeks, but began to push them back up because of the tight supply in the market at the end of the month. Though the demand from downstream buyers was soft and the sales performance was unsatisfactory, traders lifted quotations, especially in South China, as they all held limited stocks.Asian Metal Copyright .Asian Metal Copyright Even though prices for raw materials such as steel billet and iron ore kept decreasing, that of HR strip went against the trend.Asian Metal Copyright Even though prices for raw materials such as steel billet and iron ore kept decreasing, that of HR strip went against the trend.Asian Metal Copyright With the approach of the traditional off-season, the price will struggle to hold up.Asian Metal Copyright With the approach of the traditional off-season, the price will struggle to hold up.Asian Metal Copyright Under such conditions, insiders deem that the HR strip price is likely to fall slightly further next month.