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RONSCO Weekly ┃ March 30 Steel Market Recap: China’s steel prices went down sightly

Date:2023-03-30View:393Tags:Steel Pipe Flange,Rectangular Steel Tube,Square Steel Tube

Welcome to RONSCO Weekly! This article will provide you with the latest Chinese steel prices and market insights each week.

 

If you are new here, please remember to collect our website and focus on this industry news channel to stay up to date with future updates.

 

Prices for major steel products have decreased this week, and you know what? The amount of trading has decreased too. The banking sector still has risks that have not been completely addressed.

 

The Federal Reserve's decision to increase interest rates by 25 basis points has caused financial market liquidity and bulk commodities to become more strained. Additionally, the demand for steel from end users has decreased due to a decrease in speculative demand from falling futures and spot prices, resulting in a significant decrease in market transactions.

 

Let's take a look at the production and consumption figures for this week.

 

Overall, the steel industry is saturated with production, leaving little room for expansion. Additionally, Chinese steel mills are running at maximum capacity, further increasing the amount of steel available.

 

Conversely, China's steel consumption has decreased significantly, dropping by almost 380 thousand tons, and the amount of inventory has also decreased by more than 400 thousand tons.

 

Looking ahead to next weeks market, we anticipate that the banking crisis has been stabilized in the short-term due to the actions of the Federal Reserve, the U.S. Treasury, and UBS's acquisition of Credit Suisse.

 

Thankfully, it is unlikely that this development will cause any major disruption to the financial markets, and the potential economic risks are expected to decrease over time.

 

Despite production levels staying high, the main factors that will affect steel prices will depend on the actual demand from steel-using industries. Steel prices are expected to fluctuate downwards, but that is just the nature of the market.

 

Let's hope for the best and monitor the trends as they evolve. Well, what is your opinion on the Chinese steel market?

 

If you liked this article, make sure to collect our website to stay informed about the latest market news. See you next week!


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