API 5L grade B PSL2 steel market forecast

On the supply side: this week, the output of the five major steel products was 10.573,500 tons, an increase of 60,000 tons on a week-on-week basis.

In terms of demand: This week, the apparent consumption of the five major steel products was 12.272.9 million tons, an increase of 133,000 tons on a week-on-week basis.

In terms of inventory: This week, the total API 5L grade B PSL2 and so on steel inventory was 26,255,600 tons, a week-on-week decrease of 1,699,400 tons. Among them, steel mill stocks amounted to 7,417,200 tons, a week-on-week decrease of 832,900 tons; steel social stocks amounted to 18,838,400 tons, a week-on-week decrease of 866,500 tons.

In the first ten days of April, the supply and demand of the steel market were basically good, API 5L grade B PSL2 etc. steel stocks declined rapidly, and the market was bullish. However, after the rapid rise in steel prices, recently terminal on-demand purchases have reduced speculative demand, and short-term API 5L grade B PSL2 etc. steel prices may fluctuate weakly.