API 5L X65 PSL1 steel prices are still high

On April 14, China's API 5L X65 PSL1 steel market mainly rose, high transactions in the market performed poorly, and the overall transaction performance was mediocre.

In terms of fundamentals, the API 5L X65 PSL1 steel market price rose rapidly last week and then entered the shock adjustment. Under the fear of heights and high-level attention, the API 5L X65 PSL1 steel price fell to a certain extent. However, with the rebound of futures and billet prices yesterday and the release of pent up demand for many days, the current inventory digestion rhythm is still good, and today's steel market is generally rising.

In the short term, with the support of fundamental preference, API 5L X65 PSL1 steel prices are still high and difficult to down. However, under the background of fear of heights and expectation of policy regulation, there may be limited space for API 5L X65 PSL1 steel prices to rise and it is difficult to continue to rise.