Will API 5L X70 PSL2 plate price consolidate

The API 5L X70 PSL2 plate price continued to fluctuate and run strongly yesterday in China. The 20mm thick API 5L X70 PSL2 plate price was 1 USD per ton up. Today's futures are oscillating, with a linear decline in early trading. Merchants are cautious to wait and see. Intraday futures rebounded, and market prices of API 5L X70 PSL2 plate rose slightly.

However, the overall transaction of API 5L X70 PSL2 plate is general, steel mills have a strong willingness to increase prices, and merchants have increased the cost of taking goods, resulting in a low market inventory and a shortage of specifications in some regional markets.

In terms of steel mills, the output of steel mills continues to be high, especially the northern steel mills, which basically produce at full capacity. On the whole, China API 5L X70 PSL2 plate prices are expected to consolidate tomorrow.