While CRC prices are expected to decrease this month due to excess supply and decreasing demand, some manufacturers closed their production lines for repairs as a result of the decrease in production in 29 cold rolling facilities.
Rebar and HRC are on the rise
The price of construction steel is expected to increase due to the decrease in stocks in factories and the production-supply imbalance. The increase in raw material costs and the increase in demand will support hot rolled sheet prices to reach high levels as of May 17.
Prices of medium thickness steel sheets are stable
Medium steel sheet prices are expected to remain stable in the second half of May. Weak demand in Guangzhou local markets did not result in any change in the price of this product.
Decrease in prices of cold rolled sheet and other steel products
Sources predict that cold rolled coil prices will decrease this month due to excess supply and decreasing demand. In addition, production decreased in 29 cold-rolled sheet metal factories, and some factories closed their production lines for repairs. CRC prices are expected to increase in June. It was stated that the prices of other steel products will also decrease slightly due to the stagnation in the market and intense competition.
Comments
No comment yet.