Steel supply in Chinese market recovers gradually
Time:Thu, 09 Feb 2023 09:15:56 +0800
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After the spring festival, the operating rate of China's blast furnaces and electric furnaces has increased slightly, and the output of various steel has gradually rebounded, driving market transaction volume.
In terms of inventory, due to the long holiday and the mills' shutdown, the social inventory and in-factory inventory of major steels increased by 15.04% and 7.42% month on month, respectively.
However, considering that production costs are still high and profits are under pressure, it is expected that there will be little chance of price reduction in the short term. Therefore, at present steel futures prices have continued to fall, causing the spot price to rise first and then fall, and the overall trend is still slightly rising.
