After the Chinese New Year holiday, another cold wave is coming in the steel coil market. The northern region is greatly affected by rain and snow. The start of downstream terminal projects has slowed down, reducing the steel demand. The market demand for steel coils is still weak. At the same time, the rain and snow are coming. It will pressure the transportation of steel products, hinder market logistics and transportation, and slow down market replenishment, which is negative for the steel price trend.
Affected by the high opening and lower trend of futures and the cold wave of market weather after the Spring Festival holiday, downstream terminal demand has not yet started, steel coil spot merchants are not in a good mood to replenish their stocks, coke prices have dropped by 100-110 yuan/ton, and the cost side has weakened significantly, dragging down finished products. Regarding prices, considering that the output of steel companies remains low, profits of steel mills have narrowed, ex-factory prices are firm, and buyers purchase according to demand orders, the price of galvanized steel coils is expected to be stable and weak this week, with a range of US$2-5/ton. The factory is now fully operational. If you have any needs, please contact us. We will provide better quality products and the best prices.
