Monthly Flat Steel Market Report Jan 2024
2024-02-05 13:59:02 【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 ran slowly during the month, amid narrow price changes. The demand from downstream industries shrank further with the weather getting colder. Dragged by insufficient orders for final products and the narrowing profit rates, end users kept cautious about purchasing. Reporting unsatisfactory sales performance, traders remained inactive in supplementing inventories and thus the overall market stock ran at the low level. Steel mills reported losses continuously dragged by the high prices of raw materials, and they kept inactive in production. Leading producers such as Baowu Group, Ansteel and HBIS either maintained ex-works prices for February production flat or lifted them by about RMB50/t (USD7/t).
In the meantime, the international flat steel market performed inactively during the month. The narrow and frequent price fluctuations in China heightened the cautious attitudes of overseas clients to some degree. Prices ran on different trends during the month.
The domestic flat steel market ran slowly during the month, amid narrow price changes. The demand from downstream industries shrank further with the weather getting colder. Dragged by insufficient orders for final products and the narrowing profit rates, end users kept cautious about purchasing. Reporting unsatisfactory sales performance, traders remained inactive in supplementing inventories and thus the overall market stock ran at the low level. Steel mills reported losses continuously dragged by the high prices of raw materials, and they kept inactive in production. Leading producers such as Baowu Group, Ansteel and HBIS either maintained ex-works prices for February production flat or lifted them by about RMB50/t (USD7/t).
In the meantime, the international flat steel market performed inactively during the month. The narrow and frequent price fluctuations in China heightened the cautious attitudes of overseas clients to some degree. Prices ran on different trends during the month.
