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Operation of steel market during Chinese New Year

Posted:2021-02-18 15:13:39

Before the Chinese Lunar New Year, under the background of the general decline of raw materials and semi-finished products, the prices of finished steel products fluctuated in a range, and many markets in Asia entered a closed state.

During the holiday period (2.12-2.17), the pace of trade in the overseas steel market slowed down, but the prices of raw materials / semi-finished products rebounded significantly, including the increase of US $5 / T in India and Bangladesh import markets and more than US $40 / T in Pakistan import markets. Asian billets are also rising obviously. Among them, the offer price of Vietnamese billets has increased by about US $10 / T, and Indian billets have also increased by 350 Indian rupees / T on average, supported by domestic raw material prices. However, the prices of finished steel products are mixed.