The sales of 304 stainless steel angle bars remain steady, as the CRU Asia Steel Price Index fell to 192.5 points in April, a decrease of 0.7 points month-on-month and 0.4% compared to the previous month, marking the first decline after four consecutive months of growth. In March, Japan's manufacturing PMI rose to 50.4%, up 1.9 percentage points quarter-on-quarter, continuing for the third straight month. Meanwhile, China, South Korea, and Taiwan saw their manufacturing PMIs reach 50.9%, 52.0%, and 51.2%, respectively, rising by 0.8, 1.1, and 1.0 percentage points. The Far East long product market witnessed continued price increases this month, driven by China’s rapid steel output, although the rate of increase was slightly lower than the previous month. Plate prices remained stable, while sheet steel prices declined slightly. Market sentiment among construction steel merchants across major domestic markets remains weak, influenced by ongoing political tensions, economic uncertainties, and financial volatility. The overall market environment has not improved since the start of the year, leading to a cautious outlook. Some key cities are still experiencing downward pressure, with prices near low levels. In the Chengdu market, stainless steel angle bar sales are moderate, but there are supply shortages for certain grades due to product upgrades. In terms of wire rods, the first-tier manufacturers continue to face resource shortages. Out-of-province producers maintain prices around 3,600 yuan/ton, with 6.5mm specifications being particularly scarce. Local merchants are holding prices at 3,750 yuan/ton, reflecting tight supply conditions. Overall, the steel market is showing mixed trends, with some segments facing downward pressure and others maintaining stability or slight growth. Buyers are closely monitoring price movements and supply conditions, especially in the stainless steel and wire rod sectors.
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