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The recent stainless steel angle steel market may consolidate at the current price level

Jul 09, 2020

The prices of hot-rolled coil and plate in market-leading regions showed a staged bottom-out rebound near the weekend, rising by 50-100 yuan from the lowest price. Prices in other regions have not risen yet, but there are signs of stabilization . After two consecutive months of sharp plunges, domestic steel mills suffered losses. With the increase in overhauls, production declines, and futures rebounds, some long-awaited purchase demand entered the market last week, causing spot prices to appear after a rapid decline in the previous period. Due to the rapid rebound in the short term, the prices of individual regions and varieties rebounded significantly, but the overall steel market still showed a downward trend. Experts pointed out that since only a small number of courageous steel traders have recently entered the market, the overall weak trend has not been reversed. It is difficult to form a comprehensive rebound market. The stainless steel angle steel market may consolidate at the current price level in the near future.