China’s steel material price increase shows no signs of abating in March
The steel industry market in China has been experiencing an increase in tinplate and hot-rolled iron prices in recent weeks.
Major steelmakers such as BAOSTEEL, MEISTEEL and WISCO have raised tinplate and TFS prices by 200 yuan per ton, while SHASTEEL’s price has gone up by 400 yuan per ton and HBIS has increased by 300 yuan per ton. In addition, other private mills have also increased prices by 200 to 400 yuan per ton.
As for the hot-rolled iron market, the decrease in inventory has led to an increase in price, with an overall increase of about 200 yuan per ton. Major hot-rolled iron suppliers in the market, such as Baosteel, Shagang and Taigang, have also increased the price of hot-rolled iron by 200 to 300 yuan per ton.
Commodity prices are expected to continue to rise in March due to the arrival of the traditional high season (March and April) and favorable policies brought by important political conferences in China. So far, there is no indication of a drop in prices.
THE PRICE OF TINPLATE IN THE CHINESE MARKET IS EXPECTED TO CONTINUE TO FLUCTUATE.
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