Tight supply and demand of API 5L X70 PSL2 steel material

According to the survey and released PMI of iron and steel industry, it was 47.0% in August, down 2.2 percentage points from the previous month. The sub index shows that the overall market demand continues to be tight, API 5L X70 PSL2 steel material production has decreased correspondingly, raw material prices have risen at a high level, and raw material purchasing and inventory activities of enterprises have also declined. Overall, in August, API 5L X70 PSL2 steel material prices fluctuated slightly and strengthened.

It is estimated that in September, with the arrival of the peak season and the gradual fading of the flood impact, the market demand is guaranteed, and the steel production is running at a high level, but the cost of raw materials is difficult to drop in the short term, and the price of API 5L X70 PSL2 steel material may fluctuate upward under the support of raw materials and demand.