The tariff tension between China and the US eased after the Economic and Trade Meeting in Geneva on May 12, both countries agreed to roll back retaliatory tariffs imposed in early April.

Following the announcement, market sentiment improved, prompting a modest rebound in trading activity. Hot-rolled steel prices stabilized, and parts of cold-rolled product prices edged up. However, demand remained sluggish.

In South China, transactions briefly surged, while East China saw steady pricing amid high inventories. Despite eased tariff pressure, market transactions have yet to see a large-scale release of demand, reflecting cautious end-user demand and oversupply. Analysts expect cold-rolled prices to fluctuate within a narrow range, urging traders to closely watch macroeconomic signals and remain flexible in strategy.