With continuous overcast and rainy days, some districts suffer from drought and waterlog, construction steel has come into dull season. Especially in Shanghai, the market demand slumped with the plum rain season. According to Tongbao Price market, the steel procurement amount sharply declined from last week which led the falling quotation.
The steel enterprises suffer from enormous cost pressure from the high price of crude fuel and supply & demand conflict. However, as the coming busy season in Sep and Oct, the steel demand will be strongly boosted. The trend is expected to be unstable in June and July with the high temperature and raininess; it might recover in Sep and Oct.
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