[Ferro-Alloys.com] The demand for steel was delayed due to the coronavirus and the steel price kept declining in February.

According to CISA, China steel CSPI of February was 100.39, down by 5.09 (4.83%) vs. January and down by 7.29 (6.77%) vs. the same period of last year. And the steel price of 8 varieties decreased sharply in February.

On the other hand, according to National Bureau of Statistics, the pig iron, crude steel and steel products production were 132.34 million tons, 154.7 million tons and 167.13 million tons, up by 3.1%, 3.1% and down by 3.4% respectively YoY.

According to China Customs, China exported 7.81 million tons of steel from January to February and imported 2.04 million tons of steel. At the end of February, CIOPI imported iron ore price was up by $3.86 per ton than the beginning of February.

In March, more and more downstream industries resumed work as the epidemic was under control, the demand for steel has improved and steel mills slowed production down, the steel price was expected to stop decreasing and to be stable. But the inventories were still keeping high, the market was still under high pressure. (Translated by editor)

• [Editor:kangmingfei]