Steel prices plunged in March, the market worries?
Domestic steel prices dropped sharply. The overall price drop hit the biggest weekly decline this year. In some regions, the weekly decline of varieties exceeded 300 yuan. People were stunned. Some high-end products such as cold-rolled parts of the leading cities have dropped to as high as the highest point this year. As of April 14, 2017, Lange Steel Composite Price Index reached 131.4 points, down 4.71% over the same period last week; long product price index reached 145.2 points, down 4.42% over the same period last week; sheet price index reached 118.9 points, more than The same period last week fell 5.63%.Venta Caliente Cepillado ángulo De Acero Inoxidable 200Grit Con Alta Calidad
This week the domestic steel market ushered in a bloody decline in the market, futures, spot resonance, accelerated the pace of price decline. Futures level, opened last Thursday plunge. On the one hand, the short-term favorable release brought by the profit-making of the Hung On New District is completed. Again, the overall financial conditions continue to remain tight, the central bank for 13 consecutive days without reverse repurchase operations, did not give the market water.Stainless Steel Weave Wire Mesh Mesh sheet
The overall tone of monetary policy this year is steady and neutral. The monetary data in March and the first quarter once again confirmed this policy. The latest March monetary data showed that at the end of March, the broad money (M2) balance was 159.96 trillion yuan, up 10.6% over the same period of last year, a deceleration of 0.5 and 2.8 percentage points from the end of last month and the same period of last year respectively. In March, the RMB loan An increase of 1.02 trillion yuan, a year-on-year increase of 349.7 billion yuan; a quarter of RMB loans increased 4.22 trillion yuan, an increase of 385.6 billion yuan less.NO4 NO1 surface stainless steel sheet 304 2b
Coupled with the U.S. arms attack on Syria and the fight against Afghanistan, the international situation is tense and the risk aversion in the overall market is stronger. This is also a major reason for the overall futures price to fall. Inventories of construction steel in major regions such as Central South China and East China increased and the pressure on stocks increased. The inventory of hot-rolled coil, cold-rolled coil, medium-sized plate and other products continued to increase in the past month with sustained pressure on the market. The collapse of the futures price gradually undermined the market mentality, and most of the businessmen psychologically collapsed and started to dump a large amount of cheap goods at a low price. As a result, the price drop obviously increased over the previous few weeks.hard rock mining drill bits for stainless steel