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Steel prices remain high level.


The main reason for the power curtailment is the expansion of the coal lack, the poor completion of the "dual energy consumption control" in multiple provinces, and the tightening of the power curtailment.

When coal resources are in short supply, the government has promoted coal mines to increase production. At the same time, they have curbed demand by restricting electricity and production, with a view to alleviating the contradiction between supply and demand in the coal market. As there may still be a gap between supply and demand in the fourth quarter, the power curtailment will continue in the fourth quarter.

Price of hot dipped galvanized steel coil, alu-zinc steel coil and color coated steel coil go up so much, due to limited production and electricity, the shortage of steel raw materials and the low domestic steel raw material inventory, the price of basic raw materials such as zinc ingots, aluminum ingots, and cold rolled coils risen, and the increase in electricity costs.
production limit and power cuts will continue in the fourth quarter, so steel prices will remain high, not drop in a short period.