Around the time of the Tomb Sweeping Day holiday (April 3-5) in
China, steel prices in the Chinese market rebounded strongly due to the seasonal boom in demand. As a result, some Chinese steel mills increased their ex-works prices. However, as of April 13, domestic steel prices started to stabilize or register a slight downward trend. Commenting on the latest trend, many steel sector analysts in
China have expressed the view that the stability or correction in domestic steel prices will be relatively short-lived, with a slow increase in prices expected to be seen in the short term.