This week, Chinese steel prices continued its volatile trend with a slightly stronger performance as market activities are picking up and there's improved market confidence.
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This week, the Chinese steel market showed fluctuations with a slightly stornger performance. So, what's driving this movement?
For starters, the impact of the Chinese New Year festial is finally fading. As more and more factories and construction sites resume operatings, steel demand is picking up faster. This has led to a notable incerase in market activity, with more transactions happening across the globe. In fact, data shows that warehouse outflows of Steel Rebar and Hot Rolled Steel Coil have improved significantly both compared to last year and last week. But that's not the only factor at play.
Moreover,The Chinese government "Two Sessions" meetings-one of the most inportant political and economic events of the year - are just around the corner in early March. This is also one of the key factors.
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Post time: Feb-25-2025