Today the steel market price gets up 20RMB- 30 RMB per ton in Tianjin Market, Steel coils, steel plates, steel profiles, steel pipes, steel bars price all gets up. Although the world demand for steel is weak, the steel price seems already getting to the bottom, no much space for getting down more.
The present market steel price is already the lowest in the steel history since 2015, Tianjin Emerson predicts the price will keep stable in the present price for some time, and might gets up some and gets down some, then by December or next January price will have big change. According to the present market price, the mills settlement price at end each month is higher than the stock market selling price, so it leads the stock companies buying more , losing more money, then leading less and less companies buying steel and put on stock to sell, then the steel in the market is less and less. And according to the raw materials high cost, but selling at low price, it leads the mills producing more, losing more money, so more and more mills reduce production.
Therefore Tianjin Emerson thinks price already at the bottom, and will going up after some time.