SMM Steel Morning Meeting: Fundamentals Drive Construction Materials; Steel Prices Volatile Short-term

Published: Nov 12, 2024 07:35

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[SMM Steel Morning Meeting Minutes: Construction Materials Logic Returns to Fundamentals; Short-term Steel Prices Expected to Remain Volatile] On the supply side, due to decreasing profits in construction materials, some steel plants have adjusted their production structures, redirecting molten iron to hot-rolled coils. Consequently, the supply of construction materials from steel plants will continue to decline in the coming period. On the demand side, the market is gradually entering its traditional off-season, and outdoor construction in the north will be successively affected. End-users maintain rigid demand for procurement, and market demand continues to decrease. Overall, with weakening macroeconomic influences, the logic behind construction materials has returned to fundamentals. It is expected that short-term steel prices will remain volatile...

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