Recently, a group of large domestic steel enterprises such a...
Recently, a group of large domestic steel enterprises such as Baosteel, Angang, and Benxi Steel announced adjustments to their product price policies in November 2024, significantly raising the ex-factory prices based on October, with the maximum increase of 600 yuan per ton. Industry insiders believe that the main reason for this price hike is the significant improvement in orders compared to the previous month, indirectly driving the price increase. Mysteel analysis suggests that with market policy stimulation, there have been significant changes in consumer expectations, coupled with low downstream inventories, leading to a concentrated release of a round of restocking, resulting in a sharp increase in steel mills' order receipts. Due to the earlier appearance of an economically tight structure, the situation of selling orders before buying raw materials has become more common, leading to a substantial price increase this time, which has also forced this portion of demand to experience a consumption outbreak, which is a major reason why steel mills have received good orders in October and November.
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