Demand for Steel Products Diverged Last Week

SHANGHAI, Mar 28 (SMM) - In terms of rebar, terminals purchased on demand. Due to the impact of rain in east and south China, the pace of delivery has slowed down. Speculative demand also weakened amid the falling prices. As such, the overall demand declined. Looking at the follow-up period, under optimistic circumstances, the impact of the rain will weaken this week. With the gradual recovery of the operating rates of construction sites in the north, terminal demand is expected to improve slightly. In terms of HRC, the decline in social inventory of HRC in 69 warehouses slightly slowed down compared with the previous week. Falling HRC prices encouraged terminals to restock. Looking at the follow-up stage, the falling HRC prices are expected to stimulate the terminal demand to increase. As such, the demand for HRC may fluctuate within a narrow range and is unlikely to decline further.