The overall improvement of the international steel market in June

Although the coronavirus epidemic continues to plague the global economy, in May, the global steel market ended its overall decline and some markets began to rise, driven by a strong recovery in Chinese demand. In Europe, where weak demand and high inventory pressures remain constant, European markets continued to fall to a bottom in May and are expected to bottom out after May’s decline, given the support of cost pressures. The North American market, which has been depleted after a sustained decline, has had a positive impact on the market by the reduction policy of American steel mills, which began the first round of price adjustment in May after a long period of decline, with a range of about $40, mainly in flat timber varieties. Asian market, China’s domestic market rebounded strongly in May, Langer steel cloud business platform monitoring data show that China’s domestic comprehensive price level in May is 3890, a month-on-month rise of 180 yuan, month-on-month rapid rise of 5%. India, Vietnam and other markets have also seen some varieties of prices rebounded. Overall, the international steel market has “warmed up” in May and the global steel market is expected to continue to improve in June.

Post time: Jun-05-2020