TOBO GROUP
TOBO International Trading(Shanghia)Co.,Ltd Tianda Oil Pipe Co., Ltd
TOBO Pipeline Equipment Co.,Ltd TPCO & TISCO Pipe(Tianjin)Co.,Ltd.
April 13, 2018
SHANGHAI, Apr 12 (SMM) – Prices of hot-rolled steel price are likely to trade rangebound in the short term, SMM expects. Prices also continue to face pressure given the weak performance of futures.
Prices of hot-rolled steel in major markets such as Shanghai and Lecong remained weak on Wednesday April 11, with limited transactions. Spot prices declined 20-40 yuan/mt yesterday.
Liuzhou Iron & Steel Group stopped its hot-rolled steel lines and converted the lines to producing rebar due to weak prices of hot-rolled steel.
After market inventories shrank for five consecutive weeks, demand returned to normal. Operating rates across mainstream steel mills failed to meet earlier expectations despite an increase of 1.77% from the previous month.
