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Weekly Report of China Steel Market for April 3-10, 2020

  • China China  
  • Last Updated:
    Posted on: 03 Aug 2020

  • Buying Frequency: Weekly
  • Payment Terms: T/T

RFQ Details

Overview

During the week ended April 10, 2020, steel market price fluctuated, among which construction steel and HRC price rebounded. Recently, downstream demand keeps releasing as the production gradually resumed. The investment in major projects and infrastructure construction will accelerate. However, the steel market bears the pressure. Firstly, steel capacity released at a faster pace. Blast furnace operating rate has been increasing for 5 consecutive weeks and the electric arc furnace operating rate has exceeded 70%. Besides, COVID-19 spread vigorously around the world, exerting a great influence on the global trade. According to WHO, the global trade was estimated to shrink by 13%-32%, severer than the financial crisis in 2008.

SteelHome expects that HRC will rise amid fluctuation while CRC price will continue to weakly run next week.

more details, please subscribe SteelHome website.


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