Monthly Section Steel and Steel Pipe Market Report Jan 2024
2024-02-06 13:41:27 【Print】
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1. Market Highlights
The domestic section steel and steel pipe market continued running slowly during the month. Prices kept going down in the first half of the month, and end users held back from purchasing seeing the continuous price declines. Though they rebounded a little in the third week of the month, the demand from downstream industries shrank gradually with the weather getting colder in North China as well as the approach of the Spring Festival. The bank deposit reserve cut of .05% policy released in the middle of the month strengthened the confidence of market participants shortly. As traders kept cautious about supplementing inventories, the market stock remained low. Both steel mills and traders showed little confidence in the market prospect and endeavoured to conclude deals to avoid potential risks.
The domestic section steel and steel pipe market continued running slowly during the month. Prices kept going down in the first half of the month, and end users held back from purchasing seeing the continuous price declines. Though they rebounded a little in the third week of the month, the demand from downstream industries shrank gradually with the weather getting colder in North China as well as the approach of the Spring Festival. The bank deposit reserve cut of .05% policy released in the middle of the month strengthened the confidence of market participants shortly. As traders kept cautious about supplementing inventories, the market stock remained low. Both steel mills and traders showed little confidence in the market prospect and endeavoured to conclude deals to avoid potential risks.
