After nearly one month of price dropping, downtrend of China's
domestic steel price was slow down in late April. The price of HRB400 deformed
steel bar with diameter of 20mm was fallen by 13.3% compared with previous
month. The price has been stabilized, but current situation is lack of
confidence in the market.
Statistical data was shown that daily crude steel production of China’s main
steel industries in early April was 1.80 million tons. Till now, steel stocks
from them were 14.29 million tons, hit a new high since mid-February, up by
10.6% compared with the same period last year.
Some people thought that there will be inventory needs into late April, and
spot market could be improved. Oppositely, high steel capacity, the increase of
marketing demand was continuously doubted. Therefore, the steel market demand
is likely to remain soften in the short-term.
source: yieh