According to the data released by MOFCOM, Chinese domestic steel price increased by 0.4% in the week ended on April 15 from prior week. In detail, the price for medium plate with thickness of 10mm, round steel with diameter of 16mm and hot-rolled steel sheet with thickness of 3mm had inched up by 1.2%, 0.8% and 0.7% respectively week over week.
Experts said that the booming procurement orders from final customers are still the utmost reason for the price hikes in last week. As for the market prospect, we thought that the domestic steel price will continue its upward trend in the near future because the steel demand from infrastructure projects are expected to continue rising up gradually.