Steel prices rebounded as inventories decreased and trade became more active. Some steel mills said the increase was a temporary rebound.

After falling for nearly a month, steel prices are bottoming out and rebounding. Reporters interviewed companies and experts and learned that some steel mills believe that this rebound is a temporary stabilization, and the overall outlook is still not optimistic. However, the reduction in social inventory and the improvement in steel traders' transactions have released positive signals. Some local steel associations have judged that the steel industry will still face new opportunities in new materials and new technologies in 2024.

Steel prices rebound

Since hitting a new low of 3,414 yuan/ton during the trading session on March 18, the main rebar contract has rebounded in the past two days. As of the close of the afternoon of March 21, the contract rose by 1.03% to 3,616 yuan/ton, which has risen by 5.9% compared with the lowest price during the trading session on the 18th.

From the spot perspective, according to statistics from Shanghai Steel Union, the spot price of rebar in most parts of the country began to rise from the 19th. The absolute rebar index hit the bottom on March 18, and then began to rebound, rising to 3,715.4 yuan/ton on March 20.

Xu Xiangchun, information director of Shanghai Steel Union, believes that the price of rebar futures and spot prices fell by about 400 yuan/ton after the Spring Festival, which has reached a relatively low level. Short sellers are in a wait-and-see state, so the market is in a state of stopping the decline and stabilizing in the short term. In terms of spot, steel mills have a strong willingness to stop falling, and demand has also recovered.

In Sun Hui's view, the continued recovery of apparent demand, the continuous decline in inventory, and the excessive decline in previous prices have led to the current price rebound. Since late February, the downstream apparent demand has rebounded for 7 consecutive weeks, and the social inventory of rebar peaked in early March, and has been declining for 2 consecutive weeks.

24/07

Carbon steel rods are a type of steel product that is known for its high strength and durability.

Another advantage of carbon steel rods is their excellent weldability. Carbon steel is easily weldable using common welding techniques, which makes it a versatile material for fabrication and assembly processes. This allows carbon steel rods to be easily joined together to create larger structures or components.

24/07

Carbon steel coil is a type of steel coil made from carbon steel, which is known for its durability and strength.

Carbon steel coils are typically made from a combination of iron and carbon, with small amounts of other elements such as manganese, silicon, and copper. The carbon content in carbon steel coils can vary, with higher carbon content providing increased hardness and strength.

24/07

Carbon steel is a type of steel that contains carbon as the main alloying element.

One of the key advantages of carbon steel pipes is their high tensile strength, which allows them to withstand high pressure and temperature conditions. This makes them suitable for use in demanding applications where other materials may not be able to perform effectively. Carbon steel pipes are also resistant to corrosion, making them ideal for use in harsh environments such as offshore oil rigs and chemical processing plants.

24/07

Stainless steel angle is a type of steel product that is widely used in various industries due to its durability, corrosion resistance, and high strength.

Another key feature of stainless steel angle is its high strength-to-weight ratio. Despite being lightweight, stainless steel angle is incredibly strong and durable. It can support heavy loads and withstand high levels of stress without bending or breaking. This makes it a popular choice for structural applications where strength and stability are essential.

24/07

Stainless steel channel is a versatile and durable material that is commonly used in construction, manufacturing, and other industries.

Overall, stainless steel channel is a versatile and reliable material that offers a wide range of benefits for various applications. Its strength, durability, and resistance to corrosion make it a valuable investment for any project that requires a strong and long-lasting material.

24/07

Color coated coil, also known as pre-painted steel coil, is a type of metal coil that has been coated with a layer of paint or protective material.

In addition, color coated coils are environmentally friendly. The paint used in the coating process is typically low in volatile organic compounds (VOCs) and other harmful chemicals, making them a safe and sustainable option for construction projects.

24/07

Roof panels are an essential component of any building structure, providing protection from the elements and structural support for the overall framework.

In conclusion, roof panels are an important component of any building structure, providing protection, insulation, and support for the roof. They come in a variety of materials, shapes, and sizes, each serving a specific purpose in the construction of a roof. Whether made from metal, asphalt, wood, or other materials, roof panels play a crucial role in maintaining the integrity and performance of a building's roof.

24/07

Galvanization is the process of applying a protective zinc coating to steel or iron to prevent rusting.

Overall, galvanizing is a highly effective and reliable method for protecting metal against rust and corrosion. By applying a zinc coating to steel or iron, galvanization helps to extend the lifespan of the metal, enhance its durability, and improve its overall performance in a variety of applications. Whether used in construction, automotive manufacturing, or industrial settings, galvanized metal offers a reliable and long-lasting solution for protecting metal against the damaging effects of corrosion.

24/07

Tinplate, also known as tin-plated steel, is a type of thin steel sheet coated with a thin layer of tin to prevent rusting and corrosion.

Once the tin coating is applied, the tinplate is then passed through a series of rollers to flatten and smooth the surface, resulting in a uniform and consistent thickness. The tinplate can be further treated with various coatings or finishes to enhance its appearance and performance.

24/03

Steel prices rebounded as inventories decreased and trade became more active. Some steel mills said the increase was a temporary rebound.

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