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Review of international steel hot spots in the week: International steel prices rose slightly before the holiday and then remained stable; raw materials rose and overseas buyers cautiously watched the market (4.29-5.3)

May 8, 2024

Latest company news about Review of international steel hot spots in the week: International steel prices rose slightly before the holiday and then remained stable; raw materials rose and overseas buyers cautiously watched the market (4.29-5.3)

Before the May Day holiday, affected by factors such as supply tightening, rising raw material prices, and geopolitical issues, the international market steel quotation strengthened slightly, and basically remained stable during the holidays. After the quotation rose, the expected prices of buyers and sellers in the international market further widened the gap, and the number of transaction inquiries decreased compared with the previous period. In general, although the steel quotation has strengthened recently, the actual transaction price has not changed much compared with the previous period. At present, the demand in the Vietnamese and Philippine markets is still relatively good, but the strong quotation has also made some buyers choose to wait and see the market cautiously. The number of China's recent exports of price-advantaged resources has relatively decreased, which has also supported the subsequent quotations of sellers in the international market to a certain extent. It is expected that the international steel price will still have room for a small increase in the short term.

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