Monthly Section Steel & Steel Pipe Market Report Feb 2020
2020-03-05 14:30:28 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
The domestic section steel and steel pipe market performed stagnantly during the month. Most end users did not return to the market in the first two weeks of the month. Though they come back to the market in succession late this month, they were in low purchasing activities seeing the downward price trend as well as the unpromising market prospect dragged by the outbreak of COVID-19. Meanwhile, logistics and warehouses were almost halted due to the COVID-19. Reporting higher stocks and lower profits and even losses, producers either slowed down production or postponed resumption. Facing increased capital and stock pressures, traders showed little confidence in the market prospect and were eager to withdraw capitals. In the meantime, sharp price declines of raw materials such as tubing blank and steel billet also weakened participants' confidence in the market outlook.
The domestic section steel and steel pipe market performed stagnantly during the month. Most end users did not return to the market in the first two weeks of the month. Though they come back to the market in succession late this month, they were in low purchasing activities seeing the downward price trend as well as the unpromising market prospect dragged by the outbreak of COVID-19. Meanwhile, logistics and warehouses were almost halted due to the COVID-19. Reporting higher stocks and lower profits and even losses, producers either slowed down production or postponed resumption. Facing increased capital and stock pressures, traders showed little confidence in the market prospect and were eager to withdraw capitals. In the meantime, sharp price declines of raw materials such as tubing blank and steel billet also weakened participants' confidence in the market outlook.
