It is reported that domestic construction steel price has held steady in the wake of the New Year with no drastic ups and downs across the country. The first few weeks of a new year is usually regarded as a time for the market to brew on future moves.

Countrywide demand for construction steel has come to a halt in the winter season. In particularly, the building activities in North and Northeast China have almost fallen into stagnation throughout the whole winter season. In this case, any price rally is short lived for lack of solid demand support.

Meanwhile, steel inventory is always on the rise during this period of time, when construction steel stock has always hit the peak level over the years. That has caused by sluggish demand and stocking efforts from traders in anticipation for price rise after Lunar New Year holiday.

By contrary, the expectations of market participants for price uptick are much stronger this year. They believe commodity prices are set to rise driven by escalating CPI. And healthy economic prospect bids well for future steel demand.