China's steel price surged slightly last week after a three consecutive week decline. Accordingly, China's steel price had edged up 0.6% for the week ended on March 20 compared to prior week.
While the HR strip with the specification of 145*2.5mm and HRC with the thickness of 3mm had risen by 1.3% and 1.2% respectively vs previous week. Besides, the price for rebar with diameter of 12mm also rose by 1.0% week on week.
As weather improves gradually, the procurement activities are expected to ramp up. Therefore the steel price is anticipated to hike slightly in the short run.