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The price outlook for Chinese steel products in the second half of May 2024

Rebar and hot sheet on the way up
The price of rebar will increase due to the reduction of stock in factories and the imbalance between production and supply. Also, the price of hot plate will increase from May 17, 2024 due to the growth in the cost of raw materials and the increase in demand.

Price stability of medium thickness steel sheet

The price of medium thickness steel sheet remains stable in the second half of May. Weak demand in the local markets of Guangzhou has resulted in no change in the price of this product.

Reduction in the price of cold sheet and other steel products
Forecasts show that cold plate prices will decrease this month due to excess supply and reduced demand. Also, production has decreased in 29 cold coil factories and some factories have closed their production lines for repairs. Cold sheet prices are expected to increase in June. Other steel products will also have a slight price drop due to market stagnation and intense competition./Irasin

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