Can The Price Of Steel Coils Rise Sharply This Week?

1. Iron ore prices fell. Imported iron ore port inventories continue to accumulate, while on the spot side, steel mill output and inventory increased month-on-month this week, inventory accumulated, steel mills restocked later than in previous years, superimposed steel coil factory profits are low, and raw material prices weaken. Coke prices are weakening: The spot price of steel coils is falling continuously.
2. Macroeconomic policies are still focused on stabilization. No unexpected policies have been introduced for the time being. Market capital investment sentiment has dropped, and overall confidence has been insufficient. This has led to a sharp decline in the futures market, with the futures price falling by nearly 90 points. The operating mood of the steel spot market is sluggish. In addition, Although it is the traditional peak season for steel consumption, downstream demand has recovered slowly, merchants have poor inventory replenishment transactions, coke and iron ore have continued to decline, cost-side support has fallen, negative feedback has intensified, steel prices have fallen, and inventories have continued to accumulate, suppressing According to the market price trend, the price of galvanized steel coils is expected to be stable and weak this week, with a range of 10-30 yuan/ton.