On February 24, the domestic steel market was mainly weak, and the ex-factory price of Tangshan billets fell by 50 to 4,600 yuan/ton. In terms of transactions, the futures snails dived in the afternoon, the spot market continued to loosen, the market trading atmosphere was deserted, the wait-and-see mood increased, and the overall transaction was average throughout the day.

According to research, this week, the gross profit of the steel billet of Tangshan steel mill is nearly 400 yuan/ton. In addition, the environmental protection and production restrictions have been loosened, and the steel output has rebounded steadily. According to Mysteel research, the average daily transaction volume of building materials among 237 traders from Monday to Wednesday was 124,000 tons, and the demand was in the recovery stage, and the full recovery may be in the middle and late March. In the short term, the steel market is still in the accumulating stage, and speculative demand is suppressed, and steel prices continue to adjust with the fluctuations of futures.