The price of SM570 plate in China has reached a crazy stage

Recently, in the fear of heights among market participants, SM570 plate and so on steel prices have exceeded expectations and have set a new high. The steel market has reached a state of excitement and entered a crazy stage. The rising speed is accelerating and the rising slope is getting steeper and steeper.

At present, the market presents the top characteristics. The prices of SM570 plate and so on steel and ore are rising in a circular way. The supply side raises sharply unilaterally regardless of whether the downstream is undertaken or not, and the downstream exploratory procurement. At this stage, fundamental factors have partially failed, emotional factors dominate the market behavior, and the market trend is difficult to predict.