Monthly Flat Steel Market Report Feb 2024
2024-03-07 13:32:49 【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 continued performed inactively during the month. With participants retreating from the market for the Chinese New Year holiday, the market saw rare transactions in the first week of the month. Though downstream clients resumed production in succession in the second half of the month, they kept cautious about purchasing discouraged by the decreasing prices of raw materials as well as the insufficient orders for final products, and the market performance failed to improve. Reporting the poor sales performance, both steel mills and traders showed little confidence in the market prospect and kept eager to conclude deals to avoid potential risks. The losses of steel mills narrowed with the price declines of raw materials, but they remained inactive in production dragged by the slow market.
In the meantime, the international flat steel market also ran slowly during the month. Participants adopted wait-and-see attitudes towards the market prospect given the frequent price fluctuations in China, and prices changed narrowly.
The domestic flat steel market continued performed inactively during the month. With participants retreating from the market for the Chinese New Year holiday, the market saw rare transactions in the first week of the month. Though downstream clients resumed production in succession in the second half of the month, they kept cautious about purchasing discouraged by the decreasing prices of raw materials as well as the insufficient orders for final products, and the market performance failed to improve. Reporting the poor sales performance, both steel mills and traders showed little confidence in the market prospect and kept eager to conclude deals to avoid potential risks. The losses of steel mills narrowed with the price declines of raw materials, but they remained inactive in production dragged by the slow market.
In the meantime, the international flat steel market also ran slowly during the month. Participants adopted wait-and-see attitudes towards the market prospect given the frequent price fluctuations in China, and prices changed narrowly.
