Chinese Steel Market: Post-Holiday Surge in Prices and Global Impact

This week, after the holiday season in China, raw steel prices continue to break new highs. Steel mills have raised their offers for domestic sales and exports. At the same time, overseas leading steel mills have seen a wide range of increases in steel plate quotations, supporting a comprehensive rise in export offer levels. The prices of long products, including billets, rebar, and wire rods, have risen due to the increase in the prices of low-priced resources in several advantageous markets, driving the overall transaction prices higher. However, some markets are not very active in trading during the holiday season, and the fluctuation of Chinese raw material prices is significant. The market is experiencing intense speculation between bulls and bears, and market participants are cautious. In the export market, some low-priced resources have still managed to complete transactions. Overall, Chinese plate prices remain relatively advantageous in the Asian region, and it is expected that orders will still be considerable in March and April.