On the day before the Spring Festival, major Chinese steel producers such as Wuhan Iron and Steel and Shougang announced their revised pricing strategies for March. These updates saw significant price increases across a range of steel products, signaling a positive shift in market sentiment. Industry experts suggest that these adjustments could provide much-needed support to the steel sector, which has been under pressure due to fluctuating demand and supply chain challenges.
According to the latest data, Shougang increased its hot-rolled coil prices by 180 yuan per ton, while plate and cold-rolled steel saw hikes of up to 200 yuan. In North China, cold-rolled steel prices rose by 250 yuan, and in East China, the increase was 180 yuan. Wuhan Iron and Steel also adjusted the prices of rolled plates, hot-rolled, cold-rolled, and pickled steel by between 150 and 300 yuan per ton. This comes after Baosteel had already announced a price hike earlier in the month, marking the fifth consecutive month that hot-rolled and cold-rolled coil prices have climbed.
Before the Spring Festival, the steel market experienced a period of stagnation as traders left the city. However, once the holiday ended, the market showed signs of recovery, particularly in construction steel. On the first trading day of the Year of the Snake, the spot steel market opened on a strong note, with all finished steel products seeing notable price increases. According to reports from the Lange Steel Network Information Research Center, several key steel products, including hot-rolled coils and mid-plates, had already seen price gains of tens of yuan per ton prior to the holiday.
Despite the current upward trend, Ma, Director of the Lange Steel Network Information, warned that historical patterns show caution is needed. After the Spring Festival in 2009, 2011, and 2012, the steel market faced a cooling period, with prices dropping significantly in some cases—up to 500–600 yuan per ton in 2009. It wasn’t until mid-April that the market began to stabilize. The current situation bears a striking resemblance to that of 2009, and steel traders and companies should remain vigilant about the potential for a slowdown before April.There are variety types of cellulose ether available in the market and HPMC and HEMC are most popular used in construction industry. Cellulose ether can greatly improve the water retention effect for wet mortar, which is adapt to various mortar applications based on viscosity and grade type. Innocel offers various grades of cellulose ether product which is suitable for tile adhesive, plaster, wall putty, EIFS and self-leveling compound etc.
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