Monthly Section Steel and Steel Pipe Market Report Jun 2022
2022-07-12 09:26:03 【Print】
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1. Market Highlights
After the decline of RMB100-300/t (USDD15-45/t) in May, prices of section steel and steel pipe decreased further by around RMB400/t (USD60/t) during the month. To specify, they rose slightly in the first half of the month with the expectation for the improving demand with the lockdown lift in Shanghai, and went down in the second half of the month due to the sluggish demand. Reporting poor sales performance, both steel mills and traders showed little confidence in the market and worried about another price drop. In the meantime, prices of raw materials kept decreasing, weakening market participants' confidence to some extent. End users remained cautious about purchasing discouraged by the downward price trend. Besides, they reported shrinking orders for final products.
After the decline of RMB100-300/t (USDD15-45/t) in May, prices of section steel and steel pipe decreased further by around RMB400/t (USD60/t) during the month. To specify, they rose slightly in the first half of the month with the expectation for the improving demand with the lockdown lift in Shanghai, and went down in the second half of the month due to the sluggish demand. Reporting poor sales performance, both steel mills and traders showed little confidence in the market and worried about another price drop. In the meantime, prices of raw materials kept decreasing, weakening market participants' confidence to some extent. End users remained cautious about purchasing discouraged by the downward price trend. Besides, they reported shrinking orders for final products.
