Monthly Steel Plate Market Report Feb 2018
2018-03-06 14:38:59 【Print】
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1. Market Highlights
Prices for steel rose by RMB80-250/t (USD13-24/t) in major Chinese domestic markets during the month, mainly because of significant prices increases of raw materials as well as reduced supply. They kept generally stable in the first half of the month, with end users retreating from the market for the Chinese New Year (February 16), while they soared right after the holiday boosted by the news that the government in Tangshan, Hebei province required local enterprises to keep controlling blast furnace operation by 15% after Mid-March, the heating season environmental protection period. Participants deemed the government of Handan, one of the major steel plate production distributing centers in Hebei province will adopt similar environmental protection measures, which means the supply for steel plate will be cut further. Meanwhile, mills Jiangsu province also failed to operate regularly, both stimulating traders to lift prices. Insiders think the price for steel plate will go up further in March.
Prices for steel rose by RMB80-250/t (USD13-24/t) in major Chinese domestic markets during the month, mainly because of significant prices increases of raw materials as well as reduced supply. They kept generally stable in the first half of the month, with end users retreating from the market for the Chinese New Year (February 16), while they soared right after the holiday boosted by the news that the government in Tangshan, Hebei province required local enterprises to keep controlling blast furnace operation by 15% after Mid-March, the heating season environmental protection period. Participants deemed the government of Handan, one of the major steel plate production distributing centers in Hebei province will adopt similar environmental protection measures, which means the supply for steel plate will be cut further. Meanwhile, mills Jiangsu province also failed to operate regularly, both stimulating traders to lift prices. Insiders think the price for steel plate will go up further in March.
