China’s traders unwilling to stockpile due to high steel price
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Update time : 2022-11-25 18:28:22
With entering winter, the trader used to purchase rebar at reasonable prices and tried to sell them at higher prices in the peak season of the following year. However, the deficit of China’s steel makers has kept expanding since the second half of this year, so the prices were higher. Traders and downstream buyers are unwilling to stockpile.
The supply and demand of rebar were low, and the demand was expected to go down significantly in the future.
Entering the Chinese New Year holiday, market trading is sluggish
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