On April 11, the domestic steel market generally fell, and the ex-factory price of Tangshan common billet fell by 60 to 4,730 yuan/ton. Today, black futures fell sharply across the board, and downstream terminal purchases were low, and the overall transaction in the steel spot market was poor.

Affected by the repeated domestic epidemics, the demand for steel in April was still suppressed. At the same time, the Tangshan steel plant resumed work and production, and the market was worried that the pressure on supply and demand would increase. In particular, the sharp correction in the black futures market today will further dampen market confidence. Although Shagang’s ex-factory price of rebar increased by another 50 yuan/ton in mid-April due to high cost pressure, under the background of weak reality, short-term steel prices may run weakly.