About Steel: Chinese steel market price was mixed in the first three working days (Jan.4-6). Construction steel price in most of markets fell by 20-80 yuan per ton; HRC rose by 10-80 yuan per ton; medium plate rose by 10-30 yuan per ton in western regions while headed down in the remaining regions; CRC grew up by 10-50 yuan per in most of markets; structural steel price kept falling by 20-70 yuan per ton; industrial wire price fell off sharply; 304 CR stainless steel increased first and then tumbled.

          Mills gradually released their winter stocking policies after New Year holiday. Most of mills in North China locked the contracts of rebar at 4400 RMB per ton, with active stocking activities with traders. However, current market demand for steel remains sluggish as the region is extremely cold.

          SteelHome predicts that Chinese common and special steel prices in the week ahead will fluctuate by 10-50 yuan per ton; stainless steel price may be steadily going.

          About Industry: The operating rate of blast furnaces continued to go up, while that of EAFs slid. The short notice of alarm for heavy pollution weather announced in Handan, Xingtai, Tangshan and Zibo etc will have an impact on production. In chilling winter, steel demand was sluggish. The combined steel inventory in mills and marketplaces, four weeks prior Chinese Lunar New Year, was lower than that in the same time of 2021.

----- steelhome