How about the fundamentals of API 5L X65 PSL1 steel in China

The performance of API 5L X65 PSL1 steel in April is basically in line with the expectation of peak season. Looking forward to May, it is expected to continue to go to the depot. The peak season of this year will start at the end of March. According to the normal construction rhythm, the peak season can last to the end of May. As of April 29, the total inventory of the five major varieties and steel plants was 22.69 million tons, a year-on-year decrease of 3.57 million tons and a week to month decrease of 1.325 million tons. In May, the stock reduction rate of the five major steel varieties is still expected to reach about 2 million tons, and the steel fundamentals are stable and good.

At present, steel has a few good fundamentals in recent years, domestic demand continues to improve, and overseas gap is more serious, which promotes API 5L X65 PSL1 steel price to continue to rise in a new round. But also to prevent the end of may may be the end of this boom. The future aggregate demand will fall with the tightening of credit, and the current demand may have been at the end of the boom cycle.