Asian flat steel market prices fell in February
In February, Asian flat steel market prices fell. China's economy has been affected by the epidemic, the steel market is quiet, and the steel price continues to decline. According to the monitoring data, China's domestic comprehensive steel price in February was 5.1% lower than last month. Among them, the price of steel plate fell 6.3% month on month.
Late February, the steel plate import prices in the United Arab Emirates and Saudi Arabia fell, the buyer mentality is generally short. Some market participants said there was still room for further steel price declines due to weak local demand. In terms of UAE's import of cold and hot rolled steel coils, China's CFR quotation for hot rolled steel coils is 495-500 USD / ton, lower than the previous CFR 530-535 USD / ton. The quotation of CFR for Indian hot rolled steel coil is US $505-510 / ton, and that of CFR for Japanese hot rolled steel coil is US $500-505 / ton. In terms of cold rolled steel coil, the quotation of CFR in China is about US $550 / ton, while that in India is US $560-570 / ton. In terms of Saudi Arabia 's import of HR coil, the CFR price of HR coil from China was US $500-505 / T, down US $35 / T month on month. The CFR price of Indian HR coil is between 505-510 USD / ton. It is expected that the weak operation of Asian steel will be dominated in March.