Steel social inventory 11.55 million tons: down 440,000 tons from the previous month, Hebei Steel silicon manganese inquiry 7900 yuan/ton

According to a notice from the Shanghai International Energy Trading Center, the recent fluctuations in the futures price of the China Iron and Steel Index (European Line) have intensified, so relevant institutions must strengthen risk management and promote market stability. [China's steel inventory continues to decline, down 3.7% from the previous month] According to the latest data from the China Iron and Steel Industry Association, in early May,

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Searching for low rebound of steel products with super long-term special government bonds issued

On the 13th, steel prices rebounded after the good news of "issuing ultra-long-term bonds", and the night market was unstable. On the macro side, the US economy slowed more than expected in the first quarter, the employment market cooled, and expectations of the Fed's interest rate cut heated up. Domestically, the Politburo meeting at the end of April continues to stabilize market confidence. The increase in purchase restrictions in cities was completely lifted, and real estate policies were further relaxed. The speed of debt issuance is expected to increase in May, and the macro atmosphere remains favorable. On the industrial side, supply ends, blast furnace starts and average daily production of iron ore continued to increase. Electric furnace starts fell slightly.

China's steel industry accelerates optimization and adjustment of product structure

According to the China Iron and Steel Industry Association, the speed of product structure adjustment in China's steel industry is clearly accelerating, and the proportion of steel for manufacturing will rise from 42% in 2020 to 48% in 2023, and has continued to rise since the beginning of this year. In the first quarter of this year, China's exports of high value-added products exceeded 35%. By

Monthly Report | Iron and steel production recovers, steel prices swing in narrow range

Since April, steel supply and demand has seen some marginal improvement. On the one hand, the sharp decline in raw material prices in the previous period has improved the immediate profits of steel mills, and the expectations of steel mill reproduction have recovered, leading to favorable prices for the entire industrial chain. On the other hand, with the sustained rebound in steel prices, downstream cargo take-up has improved, market closing has gradually improved, and the market has gradually turned from negative feedback to positive feedback. However, it is worth noting that the speed-up of steel mill reproduction has again pushed up furnace feed prices, and steel mill profits have not yet effectively improved in the short term, and the sustainability of its reproduction is still being observed, but if the supply recovers and downstream demand does not meet expectations, there will still be a certain upward pressure on steel prices.

Steel prices come under pressure as inventory drawdown narrows

In May, the seasonal high of end consumption has passed, but the steel mills' production continues to increase, the decline in steel inventory is narrowing, and coke prices have no momentum after four consecutive rounds of price increases, so a short-term steel price decline is expected. The apparent consumption cycle is weak, and downstream demand is gradually increasing .