Monthly Section Steel and Steel Pipe Market Report May 2022
2022-06-09 14:31:55 【Print】
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1. Market Highlights
Prices of section steel and steel pipe went down in major Chinese domestic markets during the month, with the markdown of RMB100-300/t (USD15-45/t). The demand from downstream industries remained soft under the pandemic control, and the decreasing prices of raw materials such as iron ore and steel billet weakened the cost support. In addition, end users kept cautious about purchasing seeing the uncertainty of the pandemic. Reporting heavy sales pressures, both steel mills and traders moved down prices in succession, while the decreasing prices weakened downstream customers' purchasing activities to some extent.
Prices of section steel and steel pipe went down in major Chinese domestic markets during the month, with the markdown of RMB100-300/t (USD15-45/t). The demand from downstream industries remained soft under the pandemic control, and the decreasing prices of raw materials such as iron ore and steel billet weakened the cost support. In addition, end users kept cautious about purchasing seeing the uncertainty of the pandemic. Reporting heavy sales pressures, both steel mills and traders moved down prices in succession, while the decreasing prices weakened downstream customers' purchasing activities to some extent.
