LISHENGDA Manager Forecast - Is the cold rolled steel and hot rolled steel market expected to stabilise in the short term?

2024-11-06 13:42:41

During this time, China's cold and hot rolled coil market does not see an upturn, demand continues to be weak, and steel traders are cautious about the aftermath of the market.

The LISHENGDA manager said in an interview with the editor that the cold and hot rolled coil market is expected to stabilise in the short term.

In the short term, cold rolled steel coil and hot rolled steel coil prices are not likely to rise and fall, mainly due to the following reasons:

First, hot and cold rolled steel demand has a certain degree of toughness.

Recently, automotive, home appliances and other manufacturing production and sales conditions have improved, the demand for cold and hot rolled coil increased. Since the beginning of this year, China's passenger car market retail sales increased by 3 per cent year-on-year. Home appliance manufacturers have increased production in November to meet the upcoming ‘double eleven’ promotion and the end of the market demand for consumption.

Second, cold rolled and hot rolled coil supply pressure is not big.

Affected by the continuous decline in steel prices in the early stage, steel enterprises profit contraction, production enthusiasm is not high.

Third, the price of raw steel fuel is still high.

At present, although the price of raw steel fuel shock operation, but the overall is still at a high level, the pressure on the production costs of steel enterprises is still large. In order to ease the cost pressure, steel companies have raised steel prices.