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€33.67 EUR EUR
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2,023.50 TL Gold (gr) Gold (gr)

Baosteel's April price change affected demand

Given the lower production margin, China's Baosteel increased its base price for April.

Baosteel's April price change affected demand

The biggest pressure on factories since February-March was increasing raw material prices, resulting in higher production costs than selling prices.

At present, China's market inventories for manufacturing and infrastructure construction are low and supply demand is still ongoing. Therefore, actual demand in April may strongly support the market trend. It is estimated that the demand increase in 2023 may reach 4.2%.

Market participants predict that the buying momentum from March to April will improve continuously and peak in April.

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