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International steel market shows differentiation and operation in March
Looking forward to March, we believe that the International steel market will continue to differentiate. In Europe, steel prices continue to be supported by factors such as steel mill production reduction and temporary trade protection measures, but the international scrap price is weak and the cost support strength is weakened. It is expected that the European steel market will stabilize in March.
In the North American market, flat steel products fell sharply in February, and there is little room for further decline. It is not ruled out that North American steel mills raise prices on this basis to boost the market, and it is expected that the steel market will stop falling and pick up in the later period.
In the Asian market, China's domestic market was affected by the epidemic. Although the steel price dropped significantly in February, affected by the epidemic, China's market inventory was relatively high. It is expected that the Asian steel market will be weak and stable in March.
In conclusion, we believe that the international steel market will continue to present a differentiated pattern in March, but the overall pattern will be stable and positive.