Many places in north China were affected by snow and cold wave weather last week, resulting in poor steel demand

In terms of rebar, muted demand was felt from impact of the weather on many places. In addition, tight downstream funds at the end of the year may slow down demand. Overall demand appeared sluggish.

In terms of HRC, spot price of HRC appeared volatile recently. Terminal demand was average, except for demand from north China, which was slightly dented by the weather. Looking at the future, year-end demand may still be resilient, except for demand in north China softening seasonally.