China Steel Market Recap | Jan 28–29, 2025
Jan.29th Chinese market recap- Global situation is changing fast with soft dollar and today copper/gold rose crazily then steel had to follow more or less even pretend to be better. Market scenario is warm then Chinese steel rose 20-30rmb with stable situation and logic still follows winter story. Debar trade had showed the holiday mood around 62000mt daily and more down stream start to hold. Export market is firm since less offers with soft exchange rate and port stocking is running all. Local billet index up 10rmb and steel export index up 2usd. Raw materials IO returns to 105usd range and coking side had showed max rise in black chain. No surprising FED keeps interest unchanged and metal had maximized the rising speed after that, steel had no demand preference but spring is not far now.
The Chinese steel market continues to trade within a narrow range as demand remains subdued and participants stay cautious ahead of key macro signals.
Local demand, particularly for long products, remains under pressure, while export activity is largely stable with selective opportunities in coated products.
Raw material signals are mixed, and pricing continues to respond more to macro developments than fundamentals.
Swipe through for a concise breakdown of prices, demand, inventories, exports, and key market signals shaping near-term sentiment.
