Steel mills cut prices intensively, and steel prices continued to decline

Steel mills cut prices intensively, and steel prices continued to decline On February 15, the price decline of the domestic steel market expanded, and the ex-factory price of Tangshan ordinary billet fell by 50 to 4,650 yuan/ton. Black futures continued to decline today, the market sentiment was weak, and the demand had not yet fully started, and the market turnover was sluggish. Affected by the continuous decline in the futures market, the market sentiment weakened significantly, and the price drop in the spot market expanded. Judging from the recent transaction volume, the progress of the terminal resumption of work is relatively slow. It is expected that most construction sites will start one after another after the Lantern Festival, and the demand may start one after another. On the whole, affected by policy regulation, market sentiment has weakened, and downstream demand has been delayed, so it is expected that construction steel prices will continue to adjust weakly in the short term. Post time: Feb-16-2022