Steel Market Price Situation

Taken together, the domestic steel market prices are going strong last week. As the spot market continued to rise last week, the prices of most varieties are now at a high level. Continued rises have led to obvious obstacles in spot transactions, and there is strong wait-and-see sentiment for downstream purchase demand. On the other hand, at the current stage, finished products are affected by billet prices and steel mills' ex-factory prices, and the spot cost is relatively strong. Even if the subsequent transaction declines, considering the cost factors, the room for loosening is relatively limited. It is expected that the domestic steel market prices may fluctuate within a narrow range this week.