The demand for 304 stainless steel angle bars remains strong, with CRU Asia Steel Price Index standing at 192.5 points, marking a decrease of 0.7 points month-on-month and a 0.4% drop, the first decline after four months of consecutive growth. In March, Japan's manufacturing PMI climbed to 50.4%, rising 1.9 percentage points quarter-on-quarter, maintaining its third consecutive month of expansion. Meanwhile, China, South Korea, and Taiwan saw their manufacturing PMIs reach 50.9%, 52.0%, and 51.2%, respectively, increasing by 0.8, 1.1, and 1.0 percentage points from the previous quarter. The Far East long product market experienced continued price increases this month, driven by China’s rapid steel output, although the rate of increase was slower compared to the previous month. Plate prices remained stable, while sheet steel prices declined slightly. Due to ongoing domestic and international political tensions, economic volatility, and an unimproved environmental situation since the start of the year, the sentiment among construction steel traders in major markets across the country remains weak. The market is still sluggish, with some key cities continuing to see downward pressure. Prices remain near their low levels. In the Chengdu market, sales of stainless steel angle bars are moderate, but there are shortages of certain grades due to product upgrades. In terms of wire rods, first-line manufacturers continue to face resource shortages. Producers outside the province maintain prices around 3,600 yuan per ton, with 6.5mm specifications particularly scarce. Merchants are holding onto prices at approximately 3,750 yuan per ton. With supply constraints and fluctuating demand, the steel market is showing mixed signals, reflecting both strength in production and weakness in pricing momentum. Traders are closely monitoring the situation as they navigate through uncertain conditions.
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