Focus China's steel price!
The fundamentals of supply and demand in China’s steel market further improved this week. The sharp reduction in production by steel mills in the early stage led to an accelerated decline in inventories, which also supported a rebound in steel prices.
In addition, it is expected that the profits of steel mills will improve, and there is a possibility of resumption of production. The price of raw and fuel futures such as iron ore has risen significantly, driving up the cost of steel.
On the whole, there may still be room for a repairing rebound in short-term steel prices.