How about gi sheet price?
Yesterday, the gi sheet price met resistance when up to have a breakout, the inventory came down than the previous high spot. And the behavior of hot rolled coil was roughly similar.
View from the spot market, the billet price impulse are weakening today and mainly in flat-based plate. On finished products aspect, several major varieties of regional prices were mixed with ups and downs, but the whole performance are pretty weakness. Especially from the transaction situation, poor performance and the downstream procurement is not active which lead to the decrease of turnover. Unstable market condition led to the increase of market mentality divergence and all have cautious attitude to the following market.
The current market is still in a low inventory range, but with the increasing production of steel mills, the circulation area of resources have been replenished in succession. The situation that social stock dropped 21 weeks starts to end and begins to pick up from last week. According to CAMELSTEEL market research results, the whole market need the stage adjustment in short time. But the market is now widening divergence, the overall may in high shock trend now. In August, in the situation that price in earlier stage is virtual height and the increase of uncertain factor in later period, the overall performance is not very optimistic.