9,062.36 TL BIST 100 BIST 100
31.18 $ USD USD
€33.71 EUR EUR
4.36 CNY CNY CNY
0.13 CNY CNY/EUR CNY/EUR
44.64 TL Interest Interest
83.62 $ Fossil Oil Fossil Oil
22.49 $ Silver Silver
3.85 $ Copper Copper
113.88 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,041.68 TL Gold (gr) Gold (gr)

What is the Chinese steel market expected in the short term?

In the surveys conducted by China-based research units, Chinese market representatives were consulted about steel market expectations in the short term and product-based evaluations were included...

What is the Chinese steel market expected in the short term?
Short-term increase signal for rebar and wire rod
An increase is expected between February 27 and March 3 due to the intensified demand with the increase in the end consumer and the optimistic mood in the market.
In addition, the fact that rebar stocks in warehouses stopped their eight-week increase also supported prices. 
As of February 23, according to data released by Chinese research companies, rebar stocks at 429 warehouses in 132 Chinese cities amounted 13.1 million tons, down by 1,600 tons weekly.
In the sheet metal market, expectations are slightly downward for the short term
HRC prices may decrease
It may decrease in the week ending March 3 because many traders have created the expectation of compromising prices to facilitate sales as manufacturers make more deliveries.
In CRC, the expectation is horizontal or slightly downward
Since the spot trading volume is lower than expected, the price may be horizontal or slightly downward this week. In addition, it is thought that the stocks in the warehouses will also have an impact on prices.
As of February 23, according to data released by research companies of Chinese origin, cold roll stocks in 182 warehouses in 29 cities of China have reached 2.2 million tons, despite a weekly decrease of 24,700 tons.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Ukrzaliznytsia is pledging to restart sales of scrap metal

Thursday, February 29, 2024

Decrease in CRC and HDG prices expected in Europe

Thursday, February 29, 2024

Indonesia and South Africa target increased thermal coal supplies to India

Thursday, February 29, 2024

European steel market this week!

Thursday, February 29, 2024

Taiwan's scrap imports surge in January

Thursday, February 29, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now