Monthly Section Steel and Steel Pipe Market Report Oct 2023
2023-11-09 09:37:13 【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
Prices of section steel and steel pipe kept going down in the first three weeks of the month, and the confidence of market participants weakened gradually. Prices rebounded suddenly in the fourth week boosted by the news that the government announced the decision to add more than RMB1 trillion (USD137 billion) sovereign debt issuance on October 24, and the market recovered shortly. The demand from downstream industries remained soft and showed no signs of improving. Besides, end users kept cautious about placing orders dragged by shrinking orders for final products and the low profit rates. Prices of raw materials went up spirally, and the cost support for finished steel remained strong. Reporting poor sales performances, both steel mills and traders adopted pessimistic attitudes towards the market prospect.
Prices of section steel and steel pipe kept going down in the first three weeks of the month, and the confidence of market participants weakened gradually. Prices rebounded suddenly in the fourth week boosted by the news that the government announced the decision to add more than RMB1 trillion (USD137 billion) sovereign debt issuance on October 24, and the market recovered shortly. The demand from downstream industries remained soft and showed no signs of improving. Besides, end users kept cautious about placing orders dragged by shrinking orders for final products and the low profit rates. Prices of raw materials went up spirally, and the cost support for finished steel remained strong. Reporting poor sales performances, both steel mills and traders adopted pessimistic attitudes towards the market prospect.
