Tangshan billet fell 40, steel prices weakened
Date: 2022-02-24
Tangshan billet fell 40, steel prices weakened
On February 23, the domestic steel market was mainly weak, and the ex-factory price of Tangshan billets fell by 40 to 4,650 yuan/ton. Today’s spot market transactions have picked up slightly, but the overall market sentiment is poor, and the transaction performance is average.
According to the survey, as of February 22, 6 short-process steel mills in Fujian have basically resumed production, while 8 of the 25 short-process steel mills in Guangdong have not resumed production. At present, steel mills and downstream terminals have not fully resumed work, and both supply and demand have recovered, but the fundamentals are unstable. At the same time, relevant departments have strengthened the joint supervision of commodity futures and spot markets, and speculative demand has been restricted. In the short term, the steel price followed the futures market with repeated ups and downs, showing a narrow fluctuation as a whole.
Post time: Feb-24-2022
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