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CN - Steel price increases for 6 weeks with weak demand

Beijing Business Today reported that steel price keeps increasing for six months in a row as Hebei Steel Group hikes December ex works price.

According to the report, most traders believed that the prices are expected to rise in the near future caused by lots of favorable elements. While, supply and demand relations in steel market didn’t show notable changes after steel price caught an increase with stable transactions.

One trader from Beijing said the steel price rise could be a castle in the air if market demand still lingered at a low level especially in winter. And as estimated, the whole market is still hard to pick up in the days to come.

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