A survey of 58 Chinese cold-rolled, galvanized, and color-coated steel producers shows most expect a weak market after the Lunar New Year.

These surveyed plants plan to stop operations around February 10 and resume around February 24, with maintenance typically lasting 10 to 15 days. While 18 state-owned mills will continue production during the holiday period, around 20% of firms report longer shutdowns than last year.

Galvanized lines show particularly high finished product inventories, while raw material restocking remains normal. Most cold-rolled lines will skip maintenance, but color-coated facilities face longer breaks.

Because of high stock levels and slow restocking, market participants predict prices will fluctuate within a narrow range. The speed of demand recovery and inventory clearance after the holiday will determine the next price trend.