Steel prices in China have been at a high level since last year due to rising prices for iron ore and coking coal, which also caused some mid-size and small traders to choose not to stockpile in winter and left market stocks remaining low.
The price of rebar will be acceptable at around RMB 4,000 per tonne, but that depends on when demand kicks off after the Chinese New Year. Stocks and traders' attitudes could be hurt if demand rebounds late.
With regard to steel prices after the Chinese New Year, some industries believed they would rise once business started, even if they fell briefly and then rebounded.
However, some traders have calculated that even the price of steel is rising, it still takes time, because the COVID-19 pandemic is creating uncertainty.
Uncertainty in steel prices in China after Chinese New Year
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Azovpromstal® 25 January 2021 г. 10:15 |
