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SteelHome: Review of Steel Market in H1 and Forecast in H2

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    Posted on: 05 Sep 2020

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SteelHome: Review of Steel Market in H1 and Forecast in H2
I Review of Steel Market in H1, 2020

1. Analysis of Steel Market Trend in H1, 2020

In the first half of 2020, domestic steel markets declined at first then rose, exhibiting the pattern of V-shape. After Chinese New Year holiday, due to the outbreak of COVID-19, production resumption was delayed; the transactions and demand were almost stagnant, then both mill and market inventories soared. And steel market prices declined amid fluctuation.

Since April, COVID-19 was basically contained domestically, production resumption accelerated and downstream demand swiftly bounced. In May, with the accelerated issuance of special bonds, downstream infrastructure construction and major projects intensively started up; automobile and home appliance industries greatly recovered. Therefore, steel inventory continued to drop and market prices rose amid fluctuation. For example, in Shanghai, 20mm HRC400E rebar and 5.75mm*1500 Q235 rebar were priced at 3,610 yuan/t and 3,730 yuan/t on June 30, 2020, down 100 yuan/t and 180 yuan/t respectively from the end of 2019 while up 190 yuan/t and 520 yuan/t from March-end.
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