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BBN steel cold rolled sheets and coils prices continue to rise

Today's cold rolled steel product market is on the rise, and the northern resources are not much available, and the scarce resources are basically pre-sold by traders at a price increase on the way. The price of BBN steel cold-rolled sheet products can be described as skyrocketing, especially the thick sheet of 6,300 yuan yesterday, which directly rises by several hundred today. In addition, the current dealer transactions are up. The current downstream demand can support the high prices in East China. Therefore, the price of cold rolled coil in the local market is expected to be strong in the short term.

China's cold-rolled sheets and coils spot prices have generally risen, and overall transactions have been average. From a fundamental point of view, as inventories continue to decline, the current market circulation resources are limited, some steel mills are out of stock, and the downstream manufacturing industry is still performing better. Due to the low spot inventory, actual sales are lower than normal shipment levels. It is reported that the current inventory level of most merchants is only half of the normal level of resources, and the shortage of resources of various specifications in the short term will continue to promote price increases. In addition, the demand for orders for downstream automobiles and home appliances is good, which supports market prices. Overall, it is expected that the China cold-rolled sheet and coil market will continue to maintain high short-term prices on December 4.
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