Profits of Steel Mills are Unlikely to Expand

SHANGHAI, Mar 21 (SMM) - Overseas macro disturbances have intensified recently, and the interest rate hike of the Federal Reserve has once again become the focus of the market. Amid the stable high demand and raw material prices, the profits of steel mills are unlikely to expand, and the production increase will be limited. As such, the inventory will continue to fall. It is expected that steel prices will continue to fluctuate this week. Considering that overseas macro news will have a greater impact on the market, it is expected that the price spread between spot and futures will expand.