Dowsntream Demand for HRC Falls obviously due to CNY Holiday

SHANGHAI, Mar 2 (SMM) - The apparent consumption of HRC in January declined significantly due to the Chinese New Year holiday as the logistics services were halted and the terminal demand was deserted. The demand recovered slowly post the holiday, which weighed on the market transactions. Looking at the follow-up stage, since the weather in the north was still relatively cold in February, it will still take time for the demand to recover. With the recovery of terminal orders and operating rates, the demand will also pick up steadily. It is expected that the apparent consumption in February will increase after falling.