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What goes down for a long time goes up! Chinese steel prices may usher in the dawn of a rise in May ,2023.
According to the last trading day of the steel market in April, the steel billet price fell, it can be predicted that the steel market price during the May Day holiday will still fall in the weak wind and rain.
Prices of coking coal and coke plunged in April as domestic transport costs fell. In fact, the average daily production of molten iron at domestic steel mills was close to a record high in April, and the use of coke was large. The main reason for the decline was that the supply side changed from shortage to loose.
According to a survey by Zhaogang.com, most construction companies said they will increase their steel purchases in May compared with April, while auto and home appliance companies also saw significant increases in steel purchases.
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