Market foresees slight increase in CRC & GI prices in China after Chinese Lunar New Year
Time:Fri, 28 Jan 2022 08:42:07 +0800
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Ahead of the Chinese Lunar New Year, the prices of cold-rolled coil (CRC) and galvanized steel (GI) in China market were stable. At present, judging from the trend of CRC and GI inventories in Shanghai from 2021 to 2022, there is not much change.
However, as the market will close this week, and domestic steel mills also arrange delivery after long holidays, distributors' inventory pressure will increase subsequently.
The market predicted that the prices of CRC and GI after the Lunar New Year still have room to rise. Due to the recent relapse of the epidemic, some dealers have stopped work early, and downstream manufacturers are reluctant with new stock.
After the resumption of work, the inventory replenishment will become active, which will certainly drive prices up.
