On March 7, the average price for 20mm third-grade seismic rebar in 31 major Chinese cities was down by CNY 8 per ton compared to the previous trading day, reaching around CNY 3,400 per ton.

On one hand, raw material prices have been declining recently, weakening cost support. On the other hand, the market is still experiencing low production, consumption, and inventory levels, leading to a lack of upward impulse for steel prices.

In the short term, attention will need to be given to the demand recovery, inventory depletion, and the impact of policy adjustments on both supply and demand. Overall, it is expected that China's domestic construction steel prices will continue to fluctuate this week.