Over the past week, the domestic spot steel prices fell, rebar futures prices also continued weakness, crude steel output keeping hovering high, the downstream procurement rhythm slow. Steel spot market traders mentality pessimistic, the price of main varieties steel is down, some varieties of decline has widened.
Analysts of relevant agencies believe that the supply pressure is larger, however due to a shortage of increment for downstream demand.Resulting the domestic steel prices have been in a weak condition since September. Sino Steel Association forecast, the crude steel output can reach 2.1281 million tons in early October, Although the cycle ratio decreased by 1.11%.But remains in the high. Steel market continued imbalance between supply and demand. In the short term, the mismatch of supply and demand situation is still hard to ease in steel market, steel prices will continue weak.
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