Outlook for August: Construction Steel Market Trends and Expectations

In July 2024, the construction steel market in the Beijing-Tianjin-Hebei region remained weak, primarily affected by a decline in seasonal demand and the transition between old and new national standards. Reports indicate that the market for construction steel may exhibit a trend of initial decline followed by recovery in August.

Overall, supply pressure is expected to be relatively low in August, but prices are unlikely to see significant increases in the short term due to potentially sustained low demand early in the month. However, as downstream projects gradually commence, demand is anticipated to rebound, thereby gradually pushing up construction steel prices. Nevertheless, the market does not foresee a substantial overall price hike.

Market participants widely anticipate that an increase in downstream demand in August will positively impact the construction steel market, alleviating current market pressures. With the arrival of the peak construction season, increased construction activity is expected to inject new vitality into the market, promoting price stability and upward movement.