According to the data released by MOFCOM recently, Chinese domestic steel price decreased by 0.5% last week as compared to prior week. Looking at the price trend in last week concretely, the price for HR strip steel with specification of 145*2.5mm, galvanized steel sheet with thickness of 1mm and equal angle steel with specification of 5# had declined by 1.5%, 1.1% and 0.8% respectively as compared to prior week.
It is analyzed that the market demands for construction steel in North China have decreased colossally due to the constant temperature drops. Thus the procurement orders are inactive by and large. Meanwhile, the cost reductions and EXW price rollbacks from steel mills also have made some positive contributions for the price dips in last week.