Steel price forecast

There are certain contradictions in the current market. This is reflected in the fact that steel mills are still actively pushing up prices and looking forward to the future market, as well as the imbalance between resource regions and the shortage of resources in some varieties of the market. For example, there is a general shortage of resources in the market, and merchants want to place more orders, but steel mills have limited supply. However, due to demand issues, price increases are suppressed, resulting in a situation where steel mills' enthusiasm for rolling carbon steel plates is weakened and market resources are scarce, with little price increases.

On the other hand, most manufacturers do not believe that there is a significant decline in the market. Based on the current situation of demand and costs, they believe that there is limited room for a correction. In the short term, the pressure facing the steel market is mainly due to the speed of demand release and the negative impact of the Federal Reserve's interest rate hike next week. However, the negative impact of expected interest rate hikes has been mitigated by the bank incident in Silicon Valley, and the market does not have the conditions for a significant decline.