Chinese dried Reuters Although many market participants on the future of the new urbanization strategy optimistic about the leading role of the steel city, but at least before the Spring Festival, to the downstream steel market demand is shrinking further. According to the latest market report provided by "My Steel," steel prices are going down, and there will not be much room for a correction before the holiday.
According to monitoring, the domestic spot price of steel fell weakly and fell by 0.52% within a week. With the cooling of the country's wide range, coupled with the Spring Festival approaching, the downstream demand has further shrunk. However, the trends of the main varieties still showed signs of differentiation. Profiles, cold plates, galvanized plates, and seamless pipes still rose slightly. The new urbanization has been established as one of the strategic priorities in the future. This has given the steel market a relatively positive medium- and long-term expectation. However, before the Spring Festival, the steel price is still dominated by weaknesses. Of course, the callback space is also very limited.
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