Monthly Flat Steel Market Report Nov 2023
2023-12-08 13:49:29 【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
The domestic flat steel market performance continued improving in the first three weeks of the month following the continuous price increases, but it turned to unsatisfactory late this month as the purchasing activities of end users reduced gradually. The market inventory fluctuated at the low level. Prices of raw materials such as iron ore, coal and coke kept rising, strengthening the confidence of market participants to a large extent. The demand from downstream industries remained steady. Adopting wait-and-see attitudes towards the market prospect, traders kept cautious about supplementing inventories. In the meantime, leading producers lifted EXW prices of flat steel by RMB100-200/t (USD14-28/t) for December production.
Meanwhile, the international flat steel market also improved a little during the month, and prices went up in most countries. Boosted by the upward price trend in China, overseas steel mills and traders lifted prices tentatively.
The domestic flat steel market performance continued improving in the first three weeks of the month following the continuous price increases, but it turned to unsatisfactory late this month as the purchasing activities of end users reduced gradually. The market inventory fluctuated at the low level. Prices of raw materials such as iron ore, coal and coke kept rising, strengthening the confidence of market participants to a large extent. The demand from downstream industries remained steady. Adopting wait-and-see attitudes towards the market prospect, traders kept cautious about supplementing inventories. In the meantime, leading producers lifted EXW prices of flat steel by RMB100-200/t (USD14-28/t) for December production.
Meanwhile, the international flat steel market also improved a little during the month, and prices went up in most countries. Boosted by the upward price trend in China, overseas steel mills and traders lifted prices tentatively.
