External shocks strike again, the steel market is weak and fluctuates down

Compared with last week, the market prices of major steel products fluctuated and fell. Compared with last week, the rising varieties decreased, the flat varieties decreased, and the declining varieties increased significantly.
(To learn more about the impact of specific steel products, such as Steel Sheet Piling Pile, you can feel free to contact us)
At present, due to the fact that the inflation pressure in various countries around the world is still relatively large, the news of the central banks raising interest rates again comes one after another, especially the European Central Bank to raise interest rates by 75 basis points. The expectation that the economy will enter a recession has intensified, and my country’s economy is still facing multiple difficulties such as a more complex and severe international environment and a relatively weak recovery of market demand. For the domestic steel market, the expectation of warmer demand still exists, but due to the influence of weather factors, the time for effective construction will gradually decrease, and the demand for rush work may be released.
(If you want to know more about the industry news on Cold Formed Steel Sheet Pile, you can contact us at any time)
From the perspective of the supply side, as the steel mills have fallen into losses again, some steel mills have begun to increase the intensity of maintenance and production reduction, and the short-term supply side will continue to decline. From the demand side, the expectation of warmer demand still exists, but the lack of market transactions also limits the expected landing, and the northern market may also release the demand for rush work, but with the gradual transition of the off-peak season, weather factors will Significantly affects the release of demand.
From the perspective of cost, as steel mills began to increase the intensity of maintenance and production reduction, the price of raw materials also showed a downward trend under pressure, which made the cost support weaken again. In the short term, the domestic steel market will face a continuous drop in short-term supply, the possibility of rushing to work, and the weakening of cost support again. It is expected that this week (2022.10.31-11.4) the domestic steel market will show a weak and fluctuating pattern of decline.
(If you want to get the price of specific steel products, such as U Shaped Steel Sheet Pile, you can contact us for quotation at any time)