Industry News

Chinese steel mills announce flat new rate, supported by government's bullish policies

Views : 56
Update time : 2024-12-11 17:38:48
Affected by the Chinese authority's favorable economic policies, Chinese steel mills announced mainly flat new rates, stabilizing the current market trend.

In addition, the futures price of iron ore has strengthened, pushing up the price of billet. Therefore, market participants estimated that steel prices will maintain an upward trend in the short term.

Recently, the futures prices of rebar, wire, hot-rolled coil (HRC), cold-rolled coil (CRC,) and steel plate have also increased due to incentive policies.

On the other hand, the spot price of stainless steel has also been driven by the futures market, and the sales atmosphere has become warmer. The preferential space for upstream mills has shrunk, and local distributors also prioritize price stabilization.

However, it is doubtful whether actual demand in the off-season can be sustained, and end buyers still purchase according to real demand. Short-term prices are stimulated by policies, and it remains to be seen whether such a trend can continue in the future.
Related News
Read More >>
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Mar .12.2025
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Mar .12.2025
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they? Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
Mar .12.2025
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
International crude oil prices increase on Mar 11 International crude oil prices increase on Mar 11
Mar .12.2025
International crude oil prices increase on Mar 11