Monthly Section Steel Market Report Feb 2019
2019-03-07 09:32:44 【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
As end users retreated from the market in late January for the Spring Festival (5 February) and did not come back until late February, the domestic section steel market ran slowly during the month. Traders adjusted prices according to price changes of raw materials under the dim market. Reporting limited sales volumes, they showed little confidence in the market prospect and just supplemented inventories in small quantities. Seeing frequent price fluctuations both in the spot and the futures markets, end users were cautious about placing orders, with wait-and-see attitudes. In the meantime, prices in other Asian markets increased boosted by worldwide price hike of raw materials. Insiders think that the price for section steel is likely to go up slightly in March in view of the overall low stockpile.
As end users retreated from the market in late January for the Spring Festival (5 February) and did not come back until late February, the domestic section steel market ran slowly during the month. Traders adjusted prices according to price changes of raw materials under the dim market. Reporting limited sales volumes, they showed little confidence in the market prospect and just supplemented inventories in small quantities. Seeing frequent price fluctuations both in the spot and the futures markets, end users were cautious about placing orders, with wait-and-see attitudes. In the meantime, prices in other Asian markets increased boosted by worldwide price hike of raw materials. Insiders think that the price for section steel is likely to go up slightly in March in view of the overall low stockpile.
