WEEKLY: Near-term outlook on China's steel products

Below is the brief near-term outlook for five key steel products Mysteel shares on a weekly basis, drawing upon the results of related surveys and communication with Chinese market participants.

Rebar & wire rod: Prices of these two long steel products are likely to strengthen over April 15-19, with an improvement in demand from end-users showing signs of continuity while output staying at a relatively low level. Market sentiment may also recover as well.

Hot-rolled coil: This price is estimated to move up in the week ending April 19. A market source in East China attributes the downtrend in production and higher raw materials prices, which boost the market mood, to the possible rise in the price.

Cold-rolled coil: This price may be narrowly rangebound in the week through April 19, as mills' production may outpace demand. Output of cold-rolled coil among the 29 mills Mysteel tracks nationwide may hover around 860,000 tonnes this week, while end-users only procure the product to fulfill their immediate demand.

Medium plate: This price may sightly fluctuate over April 15-19, with buying enthusiasm among end-users staying flat and some traders taking a cautious approach to the plate market.

Sections: The sections' prices may move upward over April 15-19, chiefly due to the restored confidence among market participants after steel demand has grown and spot trading has improved. However, sources warn that the imbalance between demand and supply is unlikely to disappear in the near term.

Note: This article has been written in accordance with an article exchange agreement between MySteel Global and BigMint.