Domestic steel prices hit an 8-year low in March

According to the latest statistics released by the China Iron and Steel Association yesterday, as of the end of March, the CSPI domestic steel composite price index calculated by the China Iron and Steel Association closed at 94.83 points, a month-on-month decrease of 1.63 points, or 1.69%, which was the seventh consecutive month of decline. This is the lowest level since February 2006.

　　 Judging from the specific data, the five major steel products have fallen. Among them, the prices of high-speed wire and rebar fell by 58 yuan/ton and 78 yuan/ton respectively from the previous month, representing a relatively large decline; while the prices of medium and heavy plates, hot-rolled coils, and cold-rolled sheets fell slightly, both at 50 yuan/ton. Within tons.

The report analyzes that since April, as market demand has started, steel prices have rebounded slightly. However, the oversupply situation in the steel market has not changed, and it is difficult for steel prices to rise sharply in the later period.