China Steel (2002-TW) The price of Leeway (Leeway) issued in March rose, with a sharp increase of 1,000 yuan per metric ton. Sinosteel explained that the current interest rate gap between Leeway and first-class products continued to narrow, and the steel market continued to rise. The number of working days has returned to normal, and the stock price has risen. The second quarter will enter the traditional peak season once more. The stock price and operating outlook are positive.
It is understood that Sinosteel’s Leeway has always been regarded as the leading indicator of future steel prices, while the Leeway price in March, hot-rolled steel coils, general steel products, and hot-rolled steel products were raised by 1,000 yuan per metric ton, higher than the first-class products. The range and momentum continued.
Sinosteel said that under normal circumstances, there will be a certain price difference between Leeway and first-class products, but when the steel market booms, the interest rate difference between the two will converge. At present, this trend is also seen, showing that the performance of the peak season in the second quarter is worth looking forward to.
Judging from Sinosteel’s shipment situation, in February, due to the fact that the market price still fell, and the Lunar New Year came, the number of working days decreased, and the monthly shipment fell to regarding 900,000 tons. However, the company estimates that the shipment will start from March. It will rise to 1 million tons, and it is expected to rise further in April.
