Monthly Section Steel and Steel Pipe Market Report Jul 2022
2022-08-11 09:32:58 【Print】
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1. Market Highlights
After the markdown of around RMB400/t (USD59/t) in June, prices of section steel and steel pipe edged down further by about RMB500/t (USD74/t) in major Chinese domestic markets during the month. The demand from downstream industries remained insufficient. Besides, end users remained cautious about purchasing seeing the downward price trend. Though prices of raw materials rebounded late this month, they remained low and the cost support for finished steel weakened. Reporting the poor sales performance, both steel mills and traders showed little confidence in the market prospect, and some steel mills halted production facing losses and sales pressures. Traders kept inactive in supplementing inventories, adopting pessimistic attitudes towards the market prospect.
After the markdown of around RMB400/t (USD59/t) in June, prices of section steel and steel pipe edged down further by about RMB500/t (USD74/t) in major Chinese domestic markets during the month. The demand from downstream industries remained insufficient. Besides, end users remained cautious about purchasing seeing the downward price trend. Though prices of raw materials rebounded late this month, they remained low and the cost support for finished steel weakened. Reporting the poor sales performance, both steel mills and traders showed little confidence in the market prospect, and some steel mills halted production facing losses and sales pressures. Traders kept inactive in supplementing inventories, adopting pessimistic attitudes towards the market prospect.
