Positive factors in ST37 coil price gradually accumulate

Since the middle of December, the ST37 coil price has continued to drop, and at the beginning of this week, it shows signs of bottoming out. The ST37 coil prices in some regions have begun to rebound slightly.

We speculate that there may be several reasons for the bottom rebound of ST37 coil price:
1) Near the Spring Festival, the market transaction turns light and the ST37 coil price is stable, and it does not rule out that some traders' demand for winter storage starts;
2) Some high-cost steel plants begin to reduce ST37 coil production gradually, but the reduction is not large from the perspective of tracking the capacity utilization rate;
3) Overseas demand continues to recover. Recently, steel exports continue to rise sharply, which may form a support for the domestic market. Except for Asia, overseas ST37 coil prices are still rising.

On the whole, at the present time, the positive factors of ST37 coil price are gradually accumulating, and the future market may be gradually optimistic.