On February 16, the domestic steel market was mainly weak, and the ex-factory price of Tangshan billets was stable at 4,650 yuan/ton. The market mentality has improved, inquiries have increased, speculative demand has been released slightly, and low-price transactions have improved.

The main factors affecting the market volatility recently are news and policy. With the sharp rise and fall of iron ore prices, steel prices also showed a reasonable adjustment after rising too fast. This week, the downstream terminals have started construction one after another, and the demand has not been released significantly. The trend of steel prices in the later period will gradually return to the fundamentals of supply and demand. After the release of the bad news, manufacturers are not willing to continue to cut prices, and short-term steel prices may fluctuate.