Steel market:
In the spot market, the spot market of steel products rose, then fell, and stabilized this week. The overall performance was down. The hot-rolled, rebar and wire rods fell slightly, while the spot market price of steel pipes rose steadily.
In the futures market, steel futures were weaker than the spot market this week, with a relatively large decline. The main contracts for rebar and HRC futures fell 3.2% and 3.8% respectively over the same period last week.
Raw material market:
In the spot market, iron ore performance was strong in the spot market of raw materials this week. The price of Tangshan iron fine powder rose by 2.6%, and the price of long-term PB powder rose by 0.6%, but the spot of the port fell slightly; scrap, coke, Billet prices fell by a large margin, down 2.5%, 2.3% and 1.7% respectively.
In the futures market, like steel, this week's raw material futures were also weaker than spot. Coke futures prices fell the most, down 5.2% from the previous month. Coking coal and iron ore fell slightly, down 2.2% and 1.1% respectively.
