baccaratsites| China Steel Network: Steel prices are stable and strong, and social inventories fall by 3.6%
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Steel market forecast: steel prices are rising steadily this weekBaccaratsites71 city push housing "trade-in", steel inventory continues to decrease, steel prices are expected to be stable and strong next week, it is recommended to cover the delivery of goods.
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The steel market is driven by many factors, and prices are expected to rise steadily next week. ]
This week the steel market witnessed a rising trend in prices, in which many kinds of steel, such as rebar, hot coil and strip, showed different growth trends.
The housing "trade-in" policy to stimulate the property market may indirectly boost steel demand. ]
At least 71 cities have introduced a trade-in policy, which could accelerate the transaction of second-hand housing, thereby stimulating demand for steel.
[in mid-May, the overall social inventory of the five major varieties of steel in the country dropped 3.Baccaratsites.6%. ]
According to the Iron and Steel Association, the social inventory of five major varieties of steel in 21 cities decreased by 420000 tons month-on-month, indicating a gradual reduction in inventory.
Sales of passenger cars of Chinese brands have increased significantly compared with the same period last year. ]
In April 2024, the sales of Chinese brand passenger cars decreased slightly from the previous month, but increased significantly compared with the same period last year, accounting for more than 60%.
The rebar market has been boosted by policy, and prices have continued to rise. ]
Favorable policies and rising furnace charge costs have pushed up the spot price of rebar period, and the market is expected to run steadily and strongly next week.
Hot volume prices are supported by costs, and high inventories curb growth. ]
Although the cost side supports the plate price, the high inventory limits the rising space of the spot price, and the hot roll market is expected to remain strong next week.
The medium board market shows a fluctuating upward trend due to the increase in demand. ]
Hot metal production fell slightly this week, but the demand for medium and heavy plate increased, the market is expected to continue to shock the strong operation of the market next week.
The strip market is driven by macro policies, and prices continue to rise. ]
The continuous positive of macro policy and the decline of total inventory are expected to push up the price of strip steel market.
The profile market is affected by the cost of raw materials, and the price keeps rising steadily. ]
With rising raw material costs and limited supply increments to support section steel prices, the section steel market is expected to operate steadily and strongly next week.
The pipe market is steadily rising due to rising raw material costs and varying demand performance. ]
The increase in the price of raw material strip and the increase in the pipe factory promote the pipe market, and pipe prices are expected to continue to rise steadily next week.
As the billet market is still profitable, prices are expected to rise steadily. ]
Steel companies to maintain profitability and market confidence boost expectations, will promote billet prices steadily upward next week.
The iron ore market fluctuates upwards, and the mature trend becomes dominant. ]
Signs of a peak in hot metal production are expected to limit the upward space for iron ore prices, but the trend of the finished products market will still play a leading role.
The coke market is weak, but there is limited room for decline. ]
Due to the tight supply of coking coal and the advent of the peak period of coal consumption, the coke market is expected to rise steadily next week.
The scrap market is expected to rise due to the rising operating rate of electric arc furnaces and the support of iron ore prices. ]
The rebound in the operating rate of electric arc furnaces and the upward expectation of iron ore prices are expected to push up scrap market prices.
[supply pressure in pig iron market is rising and prices are expected to decline in a narrow range. ]
The rising cost of raw materials and the downturn in downstream demand have caused supply pressure, and the price of pig iron market is expected to fall narrowly next week.
From a comprehensive point of view, steel prices will be stable and strong next week, and investors need to operate with caution. ]
The rebound in the market has led to the repair of profits of steel companies, and good real estate policies continue to be introduced. Steel prices are expected to run steadily and strongly next week, with an increase of 20-40 yuan. When operating, investors should mainly cover the delivery of goods and cash in profits at the right time.
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