Will API 5L grade B steel coil prices remain volatile today

Yesterday, API 5L grade B steel coil prices fell slightly in major cities of China. Today, the black commodity futures market fluctuated and closed down 0.26%, while the spot market had a strong wait-and-see mood, and the API 5L grade B steel coil business quotation fell slightly. With the continuous rise of prices in recent years, the fear of heights in the market has intensified, and the enthusiasm of API 5L grade B steel coil end users to get goods is not high. They are basically still purchasing on demand, and the transaction is difficult to improve significantly.

However, the current market inventory of API 5L grade B steel coil is relatively low, and with the support of cost, businesses are not willing to sell at too low price. In the short term, supply and demand are still in a relative balance, the degree of business prudence has improved, and the operation is still dominated by fast in and fast out. Overall, it is expected that API 5L grade B steel coil prices will remain volatile today.