According to the announcement from China’s Baosteel, one of the leading steel giants in the world, Baosteel decided to decrease the domestic prices in April.
Before that, the market was quite confident to the new prices for April by Baosteel, mainly because there were several stimulated policies from the government and the market expected the steel market would resume gradually as more and more steel mills back to operate.
However, the declining policy from Baosteel did surprise the market, and it also showed the COVID-19 epidemic’s impact would not be ended in the short-term.
Post time: Apr-16-2020