Monthly Section Steel & Steel Pipe Market Report Apr 2020
2020-05-12 08:06:55 【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
Prices for section steel and steel pipe dropped sharply during the month, with the markdown of around RMB200/t (USD28/t) in major Chinese domestic markets. The weak downstream demand contributed to the significant price decline. Reporting insufficient orders for finished products and not being confident the market prospect in view of the quick outbreak of the COVID-19 in other countries, end users only purchased from hand to mouth and refused to place orders, with wait-and-see attitudes. Meanwhile, traders were inactive in supplementing inventories and eager to conclude deals to avoid potential risks. In the meantime, steel mills for section steel produced fully, while those for steel pipe produced inactively.
Prices for section steel and steel pipe dropped sharply during the month, with the markdown of around RMB200/t (USD28/t) in major Chinese domestic markets. The weak downstream demand contributed to the significant price decline. Reporting insufficient orders for finished products and not being confident the market prospect in view of the quick outbreak of the COVID-19 in other countries, end users only purchased from hand to mouth and refused to place orders, with wait-and-see attitudes. Meanwhile, traders were inactive in supplementing inventories and eager to conclude deals to avoid potential risks. In the meantime, steel mills for section steel produced fully, while those for steel pipe produced inactively.
