Ministry of Commerce: It is expected that steel prices will continue to rise after rising for three consecutive weeks

According to the Ministry of Commerce of the People's Republic of China on the 26th, business forecasts were affected by the increase in purchases by traders and the stocking of construction companies' projects. The volume of transactions in the market rose, and steel prices rose slightly for the third consecutive week. According to the monitoring, last week (January 17 to January 23) domestic steel prices rose by 1.0% from the previous week, among which 3mm hot rolled ordinary sheet, 14# I-beam, and 20*1.2 welded steel pipe rose 2.0% and 1.8% respectively. And 1.7%.

Traders and construction companies increased their reserves of engineering materials and their stocks increased significantly. According to the data, on January 21st, the social steel inventories of 29 key cities across the country increased by 6.9% from the previous week and increased by 23.1% from the same period of last month.

According to the report, the local steel mills have recently raised the factory prices one after another. It is expected that steel prices will continue to rise slightly in the short term.