According to a report recently released by the Financial Assets Department of the China Iron and Steel Association, it is expected that steel prices in the domestic market will continue to fluctuate slightly and operate at a high level under the dual role of demand-pulling and rising costs.
In May, due to the strong demand in the domestic market, steel prices continued to rise steadily. At the end of May, the domestic steel comprehensive price index was 156.86 points, up by 7.09% from the previous month and up by 38.40% year-on-year. According to the report, the reasons for the rise in domestic steel prices include: Domestic demand remains strong, demand from major steel industries is booming, prices of raw materials continue to rise, and steel prices continue to rise; steel inventories decline, and the steel market shows periodic tight resources.
In May, due to the strong demand in the domestic market, steel prices continued to rise steadily. At the end of May, the domestic steel comprehensive price index was 156.86 points, up by 7.09% from the previous month and up by 38.40% year-on-year. According to the report, the reasons for the rise in domestic steel prices include: Domestic demand remains strong, demand from major steel industries is booming, prices of raw materials continue to rise, and steel prices continue to rise; steel inventories decline, and the steel market shows periodic tight resources.
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