Steel prices continue to fall

Steel prices continue to fall On April 25, the domestic steel market price continued to fall, and the ex-factory price of Tangshan common billet fell 50 to 4,700 yuan/ton. The black futures futures market fell sharply, the spot market price continued to fall, the market sentiment was pessimistic, and the trading volume shrank. The black futures market fell sharply today, with iron ore prices falling the most. Although the implementation of domestic macro policies has been intensified and logistics and transportation are also improving, the domestic epidemic has repeatedly affected demand, and the market has become more pessimistic. At the same time, steel mills generally have low profits and a few losses. In addition, under the weak supply and demand pattern, the pressure on accumulative warehouses has increased, and the willingness to suppress the prices of raw materials and fuels has increased, and the support of steel costs has moved down. In the short term, negative factors prevail, and steel prices may continue to decline. Post time: Apr-26-2022