Steel Coil Price Forecast This Week

The Federal Reserve continues to raise interest rates to fight inflation, suppressing demand for commodities and restricting price increases. The financial market is under pressure, inhibiting economic recovery and development. The demand for steel from terminal enterprises has started slowly. In addition, with the outbreak of overseas fringe wars, the popularity of safe-haven assets such as gold has increased. If the price increases, gold prices may still have room to rise. The mood of international capital operations is sluggish, and the stock and futures markets are sluggish. Iron ore led to a decline in the black series, falling nearly 3%, which affected the spot market trading volume, although the average daily molten iron output of the blast furnace also declined. From 19,800 tons to 2.47 million tons, the current steel coil factory production has been reduced, but the intensity of production restrictions is not strong. The terminal demand for steel is still weak. The accumulation of steel during the holidays is higher than expected, and the terminal demand is not as good as in previous years. It is recommended that customers pay according to their needs. Purchase.
It is expected that the overall Color-coated steel coil price will fall steadily this week, with the price reduction ranging from US$3 to US$6/ton.