Baosteel, a large steel mill in China, announced that prices for most of its products remained unchanged in November, while the price of electro-galvanized coils increased by 100-200 yuan per ton.
According to market analysis, the fourth quarter is the traditional peak season for home appliance manufacturing. In addition, the Chinese government announced the extension of the exemption from the tax on the purchase of cars powered by new energy sources. Demand was expected to recover.
Market participants note that purchases increased after the Chinese holidays. Meanwhile, the Chinese government has carried out a lot of construction and investment. It is worth looking forward to the fourth quarter of the steel market.
Chinese Baosteel left prices unchanged for November
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Azovpromstal® 12 October 2022 г. 10:05 |
