The hottest steel mills have lowered their expecta

2022-08-14
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Steel mills have lowered their expectations, and the space for the steel market to reduce is limited.

yesterday, the domestic steel spot market was still consolidated downward, the decline in the building materials market continued to slow down, and the price decline of hot-rolled coils and medium and heavy plates increased

at present, it is in the high temperature in the country, most of the rainy weather in the south, the market is generally weak, there are few terminal purchases, the enthusiasm of middlemen to enter the market is low, and merchants generally maintain low inventories to reduce risks. Due to the continuous decline of steel prices, leading steel mills such as Hebei Iron and steel, Baosteel and Shagang have reduced their ex factory prices. Following Shagang's reduction of deformed steel bars and other yuan/ton on the 11th, Baosteel announced a reduction of cold and hot rolled coils, electrical steel and other varieties of yuan/ton on the 12th. Market pessimism has become increasingly strong, and the steel market is expected to spend this week in a weak market

yesterday, eight ministries and commissions including the Central Bank of China's medium and heavy plate Municipality jointly issued several opinions on financial support for industrial steady growth, structural adjustment and efficiency increase. The market continued to decline generally. In addition to Hefei and Fuzhou markets, many markets such as Shanghai, Guangzhou and Tianjin fell by yuan/ton. Among them, the Shanghai market was affected by the price reduction of the East China billet and rolling steel plant. In the face of the particularly urgent demand for the metrological verification and calibration of temperature measuring equipment in key transportation and public places where shopping malls, supermarkets, hospitals and other personnel gathered, it showed a weak downward trend, with individual varieties falling by 40 yuan/ton in total in the session. According to the merchants' feedback, there are too many goods in the market recently, while the terminal demand is not strong, and the order receiving of steel mills is also poor, so the market as a whole is relatively weak. It is worth noting that Baosteel's medium and heavy plate price has been lowered in the early stage, and the latest price policy has been launched. Other steel mills may follow up one after another, indicating that the space for medium plate price reduction in the later stage is relatively limited

yesterday, the domestic hot-rolled coil Market accelerated downward, the market prices in Tianjin, Beijing and Guangzhou continued to fall, and the Shanghai market, which fell significantly yesterday, stopped falling and stabilized. Judging from the local market, there are 10 large plastic markets in Beijing, and the market decline is obvious. The market continues to be depressed, the demand is difficult to improve, and the transaction is light. This week, local new resources basically arrived, but the market was not good, the enthusiasm of merchants was not high, and the level of holding goods was generally low. And there are still fewer large investors, mostly retail investors, with a strong wait-and-see atmosphere in the market. Due to Baosteel's latest policy of significantly reducing the prices of hot-rolled, cold-rolled, silicon steel and other prices ranging from yuan/ton, the market is increasingly pessimistic about the future market, and it is expected that the hot-rolled coil market will still be dominated by a weak downward trend in the short term

in high temperature and rainy weather, terminal demand is still bleak, middlemen have not stocked up, and steel mills are not optimistic about the future market. Yesterday, the prices of building materials in most domestic markets such as Shanghai, Beijing and Guangzhou still fell slightly, and the decline in Tianjin market is more obvious. However, after the sharp decline in the previous two days, the decline continued to slow down yesterday, and the signs of stabilization in the Northeast market can be read from the digital display or computer. From the perspective of steel mills, Shagang, as expected by the market, lowered the prices of thread, wire rod and spiral rod by yuan/ton in mid July, and the building materials market as a whole maintained a weak decline pattern. However, after this period of continuous decline, some market prices are obviously upside down, and the space for further reduction is relatively limited. In the short term, the market may continue to be dominated by weak consolidation

(source: Alibaba)

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