In the near future, the price of ductile iron manhole covers is difficult to further increase significantly.
Shanghai ductile iron manhole cover prices fluctuated within a narrow range this week. The overall market this week is in a narrow range. Due to the continuous fluctuation of billets and futures, the enthusiasm for downstream demand procurement is obviously limited, resulting in spot prices having to adjust with the impact of shipments and costs. Although the market price performance was stable in early trading on Monday, the downstream purchasing power was obviously insufficient after the quotation, and the price appeared loose.
However, as the snails rose in the late afternoon, the market mentality changed accordingly. On Tuesday morning, some specifications were raised, and as the market strengthened, the bullish mentality of merchants was obvious, and the prices of various specifications were further higher in the afternoon. As prices have risen, downstream demand has clearly weakened. Although spot prices have still increased slightly in the middle of the week, due to poor demand, it has been difficult to further increase the prices of ductile iron manhole covers.
With the arrival of the latter part of the week, due to the poor transactions and the decline of the futures snails, the spot price appeared to be loose. With the rebound of the futures snails, the local decline significantly slowed down, and some specifications were once again raised. This week, Shanghai's total steel construction inventory was 648,200 tons, which was an overall decrease of 43,800 tons compared with the same period last week, and an overall decrease of 8.82%. This week, traders are still dominated by shipments, and the total inventory is further lower. At present, demand is rising further, and merchants are still optimistic about the outlook.