Recently, within China, the prices of cold and hot rolled coil markets have fluctuated frequently, and steel traders remain cautious. In the short term, the cold and hot rolled coil markets will continue to fluctuate slightly. Weak steel demand persists, with declining production and sales in the automotive and home appliance industries.
Raw material prices have fluctuated, with high prices for iron ore and scrap steel, while coke prices dropped. Despite the high production costs, steel companies are maintaining prices. Some large steel companies raised the June hot rolled coil base price by CNY50/ton, preventing a significant market price drop.
Overall, the cold and hot rolled coil markets within China will remain supply-strong and demand-weak in the short term, with slight price fluctuations expected.