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The domestic steel price has risen for five consecutive weeks in "Everyone is not optimistic". My steel network announced that the domestic steel price composite index was 155.1 points, up 0.5% from the previous week. However, the China Iron and Steel Association (referred to as China Steel Association) I told the author that although the demand for steel products will maintain a steady growth from the perspective of the domestic economic situation, due to excessive domestic production, it is difficult for steel prices to rise sharply and will remain volatile.
According to the monitoring released by the Lange Steel Information Research Center, last week, after the domestic construction steel price reached 4100-4200 yuan/ton and the steel futures price reached 4300 yuan/ton or more, the momentum of continuing to rise was obviously insufficient. In addition, although the prices of most steel varieties were boosted by the increase in ex-factory prices of Baosteel, Anshan Iron and Steel, and Wuhan Iron and Steel at the beginning of last week, there has been a trend of callbacks towards the end of last week.
In this regard, Yang Piece, an analyst at my steel research center, believes that the steel price has rebounded for more than a month. After the price has risen and the downstream acceptance has decreased significantly, this indicates that the current downstream demand is not rigid demand. It also shows that it will take some time for the downstream demand to be fully released.
Regarding the trend of steel prices in the second half of the year, the China Steel Association stated that although the demand for steel products will maintain steady growth, it is difficult for prices to rise significantly. The reason for judging the demand to maintain steady growth is because the overall economic situation of our country is running well, and the country is launching some large-scale investment plans, which will help to drive overall growth.
Excerpt from: Sohu.com
