After a round of ups and downs, domestic spot steel prices have entered the rising channel for the second consecutive week. The contraction of cost and output is the supporting factor, but the demand is still insufficient. Imported iron ore prices are ups and downs, and no staged price positioning has yet been found.
According to the latest market report provided by the well-known steel information agency “My Steel”, the domestic spot steel price index closed at 124.03 points in the most recent week, up 4.59% in the week. Market participants said that after a round of "rising-return" "roller coaster", the price of steel has risen for two consecutive weeks. Steel futures performed strongly, and spot steel prices were positively rising. Although the market transactions were heavy, the terminal demand was still weak, and the follow-up efforts were worrying. However, steel costs are still supporting, and mainstream mills continue to rise in factory prices for December. In addition, some areas in China are undergoing environmental supervision, and steel output will be suppressed. These factors will have certain upward thrust on the steel market.