Haihao Group allows you to keep abreast of changes in raw material prices in the steel market

At Haihao Group, we prioritize keeping our clients informed about the latest trends and changes in the raw material market. Understanding these fluctuations helps our clients make informed decisions, optimize their procurement strategies, and manage costs effectively. Recently, we observed significant movements in the steel market, which we are sharing to aid our clients in navigating this dynamic landscape.

The National Bureau of Statistics of China has released its latest monitoring data on market prices for 50 key production materials across nine categories. The data for early May, compared to late April, shows that prices for 29 products have increased, 20 have decreased, and one has remained unchanged. Notably, prices for six types of ferrous metal products saw five increases and one decrease.

A234 WPB seamless butt weld elbow and reducer

A234 WPB seamless butt weld elbow and reducer

Here are the specific changes in prices for key steel products in early May:

HRB400E Rebar (Φ20 mm): The price increased by 35.7 RMB/ton, reaching 3715.4 RMB/ton, a rise of 1.0%.

HPB300 Wire Rod (Φ8 mm – Φ10 mm): The price increased by 38.9 RMB/ton, reaching 3889.7 RMB/ton, a rise of 1.0%.

Q235 Medium Plate (20 mm): The price increased by 3.3 RMB/ton, reaching 3905.1 RMB/ton, a rise of 0.1%.

Q235 Hot Rolled Coil (4.75 mm – 11.5 mm): The price decreased by 6.9 RMB/ton, reaching 3825.5 RMB/ton, a drop of 0.2%.

Seamless Steel Pipe (Φ219 mm × 6 mm, 20#): The price decreased by 37.5 RMB/ton, reaching 4493.1 RMB/ton, a drop of 0.8%.

Angle Steel (5#): The price increased by 23.5 RMB/ton, reaching 3982.7 RMB/ton, a rise of 0.6%.

Significance of Sharing Market Information

By sharing these detailed market updates, Haihao Group aims to support our clients in several ways:

Informed Decision-Making: Clients can make better purchasing and inventory decisions based on current price trends.

Cost Management: Understanding price fluctuations helps clients manage their budgets and reduce procurement costs.

Strategic Planning: Knowledge of market trends enables clients to plan their projects and operations more effectively, ensuring timely procurement of materials.

Risk Mitigation: Keeping abreast of market changes helps in anticipating and mitigating risks associated with price volatility.

At Haihao Group, we are committed to being more than just a supplier; we strive to be a valuable partner in our clients’ success. By providing timely and relevant market information, we help our clients stay ahead of the curve and thrive in a competitive environment.

For any inquiries or further details on how these market changes might affect your operations, feel free to contact us. We are here to assist you with all your pipeline system needs, leveraging our expertise and comprehensive market insights.