Decrease in domestic steel prices

According to the latest market report provided by the well-known steel information agency “My Steel”, the decline in domestic steel prices has an increasing trend, and the market will continue to be under greater pressure.

According to monitoring, the domestic construction steel price has generally fallen sharply, and the highest tonnage price in central China fell by 180 yuan. Last weekend, the price of steel billets plunged by 150 yuan, which has a greater impact on the spot steel market. The market price of hot-rolled coils also showed a sharp decline. Japan Steel announced on the 15th that the tonnage of hot-rolled products was reduced by 40 yuan, and on the 21st, it once again announced a reduction of 100 yuan, less than a week, the cumulative ton price has dropped to 140 yuan.

According to the analysis of institutional analysts, under the combined influence of factors such as the continued weakening of raw material prices, further downward adjustment of steel plant's factory pricing, the more intense attitude of enterprises to wait and see, and the intensified external market uncertainty, the downside risks of steel prices are still evident.

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