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The rose and fell of China's steel market in March

The rose and fell of China's steel market in March
Mar 31, 2023 page view:28

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In March, the Chinese steel market was affected by multiple factors at home and abroad. In the first half of the month, it was led by strong macroeconomic policies and supported by relatively high costs, presenting a volatile and rising market; In the second half of the month, affected by the rapid recovery of supply, weaker than expected demand release, and external risk spillovers, the market presented a volatile and adjusted trend; At the end of the month, with the continuous release of risks, the market stabilized and rebounded.

By the end of March, the comprehensive steel price had increased by 0.6% compared to the end of last month, with a year-on-year decrease of 15.4%. Among them, the price of long timber decreased by 0.8% compared to the end of last month and 15.4% year-on-year; Steel plate prices rose 1.9% compared to the end of last month and fell 15.3% year-on-year; The price of profile steels increased by 0.2% compared to the end of last month and decreased by 17.6% year-on-year; The price of steel pipes increased by 1.0% compared to the end of last month, and decreased by 14.4% year-on-year.

From the monthly average, there is also an upward trend. In March, the comprehensive price of steel increased by 2.4% compared to the previous month, and decreased by 13.6% year-on-year.

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