Forecasts show that cold rolled coil prices will fall this month due to oversupply and lower demand. In addition, production at 29 cold-rolled mills has declined and some mills have closed their production lines for repairs.
Reinforcing steel and hot rolled coil on the way up
The price of reinforcing steel will rise due to the reduction of stocks in the factories and the imbalance between production and supply. The price of hot-rolled sheets will also increase from May 17, 2024 due to the rise in raw material costs and increased demand.
Price stability of medium-thickness steel sheets
The price of medium-thickness steel sheets will remain stable in the second half of May. The weak demand in the local markets in Guangzhou has not led to any change in the price of this product.
Reduction in the price of cold-rolled sheet and other steel products
Forecasts show that prices for CRC will fall this month due to oversupply and lower demand. In addition, production has fallen at 29 cold rolled coil factories and some factories have closed their production lines for repairs. CRC prices are expected to rise in June. Prices for other steel products will also fall slightly due to market stagnation and intense competition.
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