The domestic steel mills have not risen in price for several days, but steel prices have been insufficiently motivated, and they started to pull back again last Friday.
"In the past two weeks, the US stock market and crude oil futures prices have been significantly dragged down by poor economic data. The confidence in the domestic capital market has gradually declined. The Shanghai Composite Index and steel futures prices have been repeatedly blocked. This will suppress the spot market price. It is expected that there will be a wave of adjustments in the price in the near future.†Lange Steel Network analyst Ma Li pointed out to the Yangcheng Evening News reporter.
Market wait and see mood is serious
The reporter learned that although the price of most varieties was boosted by the ex-factory price of the Baoanwu three major steel mills at the beginning of last week, they all formed a pullback at the weekend. “From the perspective of construction steel, the domestic construction steel market price last week repeated the trend of a small increase at the beginning of the week and a fall in the middle and late period.†Horsepower analysis, but the price adjustments last week were significantly smaller than in previous weeks. a lot of.
The data shows that the spiral price of the Beijing-Tianjin region was only about 30 yuan at the beginning of last week. In the middle and late period, the price was basically adjusted back to the level of the previous week's weekend. The price of the Shanghai market was 50 yuan and the price was 20 yuan. Most other cities price. The change is not big. “The rise in construction steel prices was mainly driven by Baosteel's disguised upward adjustment and Anshan Iron and Steel and Wuhan Iron and Steel's price increase in September. The construction steel market itself has no significant impact.†Ma Li revealed that international capital markets, especially US stocks and crude oil futures prices appeared. The obvious downward trend has formed a significant pressure on the market mentality. The domestic capital market and the steel spot market have seen a relatively obvious wait-and-see attitude. As a result, since August, the construction steel spot price and futures price data have failed.
Rising expectations have not disappeared
Although recent price corrections have taken place, construction steel inventories in most regions continue to show a downward trend. According to the latest statistics of Lange Steel, as of August 20, the social inventory of construction steel in 29 key cities nationwide reached 6.89 million tons, a decrease of 62,700 tons from the same period of the previous week, a decrease of 0.9% compared with the same period last month. It fell by 8.34%, an increase of 46.68% over the same period last year. Beijing stocks 511,000 tons, down 0.79 million tons from last week; Shanghai stocks 692,000 tons, down 24,900 tons; Guangzhou stocks 682,100 tons, down 10,000 tons; 18 out of 29 cities have a decline in inventories, 11 The city may be flat or slightly growing. The stocks of the three leading markets of Beijing, Shanghai and Guangzhou continue to decline.
“In the short term, domestic steel prices will adjust. However, the overall judgment is that the market’s expectations for late price increases have not disappeared, and the overall market rigid demand will increase as the weather improves. The adjusted price is expected to continue to return. Rising channel." Ma Li pointed out.
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