Monthly Section Steel and Steel Pipe Market Report Jul 2021
2021-08-11 14:25:49 【Print】
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1. Market Highlights
Prices of section steel and steel pipe rebounded in major Chinese domestic markets during the month. Major producers received the formal notification about production cut in the second half of the year in succession from early this month, strengthening market participants' confidence to some extent. The purchasing activities from end users increased late this month as most of them believed prices would go up further in the remainder of the year. Meanwhile, both steel mills and traders remained eager to raise prices with the expectation of production cut in the remainder of the year, and traders were not in a hurry to sell materials seeing the potential reduced supply.
Prices of section steel and steel pipe rebounded in major Chinese domestic markets during the month. Major producers received the formal notification about production cut in the second half of the year in succession from early this month, strengthening market participants' confidence to some extent. The purchasing activities from end users increased late this month as most of them believed prices would go up further in the remainder of the year. Meanwhile, both steel mills and traders remained eager to raise prices with the expectation of production cut in the remainder of the year, and traders were not in a hurry to sell materials seeing the potential reduced supply.
