Weekly Review of International Steel Hotspots: International steel prices have declined overall amid sluggish demand, and there is still room for subsequent price declines due to seasonal factors (2.23-3.1)

This week, international market prices have generally weakened, demand has been sluggish, and overall market sentiment has been relatively sluggish. Some countries have been affected by the rainy season and seasonality, and subsequent demand is expected to decline further. Specifically, international semi-finished product prices continued to fall this week. Among them, the export of steel billets in the Chinese market slowed down and billet quotations dropped significantly. In order to maintain competitiveness in price, Iran's subsequent quotations still have some room for decline. Affected by poor demand for long products in Turkey, Russian steel billet export inquiries have decreased and market sentiment has been sluggish. In terms of finished products, demand for finished products is still poor. Raw material prices in Asian and Middle Eastern markets have declined to varying degrees. It is expected that subsequent finished product prices will be difficult to support. Turkey and the Philippines are about to enter the rainy season, and March-April is the traditional month of Ramadan in Turkey and Malaysia, so market demand is expected to be difficult to recover. Overall, we expect that there is still room for a certain decline in prices and demand in the international market in the future.