API 5L grade B PSL2 steel prices may fluctuate and weaken this week

Looking back at the steel market last week, it showed a trend of volatility and decline, no exception for API 5L grade B PSL2 steel prices. The composite steel price index fell by 62 points, of which the medium plate, hot rolled and cold rolled steel fell by 60, 122 and 221 points respectively.

Looking forward to this week, the steel market may continue to show a trend of volatility and weak operation. So it is with API 5L grade B PSL2 steel prices. The main reasons are: first, API 5L grade B PSL2 steel exports are still strong, but import growth has slowed down. Copper imports in December fell by 3.3% year-on-year for the first time in recent years, which may indicate the growth rate of industrial demand declined and even some areas declined; second, the fundamentals of steel continued to decline, and the five major varieties of inventory increased by 790,000 tons from the previous month, which was 2.96 million tons higher than the inventory in the fifth week before the Spring Festival; At the end, the black futures contract is basically over in January, and the pricing must return to the reality that the fundamentals are changing from strong to weak.