The steel price rebounded and the market showed obvious signs of recovery

After the correction of the steel market at the beginning of February, the steel industry has recovered recently due to the acceleration of resumption of work and production. In recent days, steel prices have continued to rise.

Industry insiders said that the real estate industry has sent a positive signal that the prices of raw materials such as coal and scrap have rebounded significantly, the growth rate of steel inventory has slowed significantly, and the confidence in market demand has also improved significantly.

From the perspective of the total supply and demand of domestic steel consumption, China steel will still show a pattern of oversupply in 2023. Considering that various economic policies since 2022 are expected to be further implemented in 2023, steel consumption is expected to gradually rise in 2023.