Baosteel hikes prices for Apr, demand recovering
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Update time : 2023-03-15 17:19:23
Considering the lower production margin, China's Baosteel raised the base rate for April across the board. Since February-March, the greatest pressure on factories has come from rising prices of raw materials, resulting in higher production costs than sales prices.
At present, the market stocks for China's manufacturing and infrastructure construction are low, and the demand for replenishment is still maintained. Therefore, actual demand in April could support the market trend strongly, and it is estimated that the demand growth in 2023 can reach 4.2%.
Market participants believed that the buying momentum from March to April will recover continuously, and that in April will reach a peak.
