The resistance of API 5L X42 PSL2 steel price to continue to rise in May increased

In April 2021, the price of API 5L X42 PSL2 steel in China was strongly increased. In April, China's end-end demand was released rapidly, and the trading of steel markets in various regions was enlarged, especially in the north market. The characteristics of peak season showed, the superimposed capital market boosted the waves, regional steel plants pushed up strongly, and the steel market showed a prosperous supply and demand.

With the boost of demand side, the national API 5L X42 PSL2 inventory continued to decline, but still higher than the same period of the year, indicating that the funding level in the post epidemic period is still relatively loose. However, after the continuous increase of API 5L X42 PSL2 steel price, the market fear of high mood appears, and the pace of terminal procurement has slowed down. With the weakening of peak season characteristics, it is expected that the demand end will be cooled to some extent in May, and the resistance of API 5L X42 PSL2 steel price will continue to rise in the later period.