In the last week of 2022, Tsingshan Holding Group lowered the AISI 304 futures price for 2023/January-February delivery, hoping to maximize inventory before the Chinese New Year and ease pressure.
At present, due to the strong epidemic in China, it is difficult to predict the market dynamics after the long holidays, when most downstream companies have postponed restocking. However, some traders remain optimistic about a recovery in demand going forward, coupled with destocking, and futures order status is acceptable.
In addition, the current sales atmosphere at the private steel mills in Foshan and Wuxi is now improving. The spot price before the Chinese New Year did not fluctuate much, and the market still needs to pay attention to the futures price.
Stocks of stainless steel producers in China are gradually rising
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Azovpromstal® 28 December 2022 г. 12:54 |
