Is The Price Of Steel Coils Worth Buying This Week?

Recently, the industry has been facing two pressures, one is steel coil factory profits, and the other is steel coil factory inventory. The current market cycle is still in a downward trend. What needs to be done at this time is to control risks and develop response strategies promptly. How will the market go this week? See below.
Federal Reserve Chairman Powell publicly stated that because the U.S. economic growth remains relatively strong, the Federal Reserve is in no rush to cut interest rates now. Currently, some analysts believe that the Federal Reserve may only cut interest rates once this year, or even not at all.
The market prices of iron ore, coking coal, etc. have performed poorly, and negative feedback and weak reality have temporarily appeared. Under this situation, finished product prices have continued to fall. However, considering the decline in steel billet inventory and slight support at the bottom, steel billets are expected to maintain stable operation this week.
Coke prices have been reduced for seven consecutive rounds, coke companies' profits continue to shrink, and production restrictions continue at a loss. At present, the inventories of Coke companies have dropped significantly, but the pressure remains as the finished products continue to fall. It is expected that Coke will continue to weaken this week.
From a fundamental point of view, as some steel coil factories implement production shutdown and maintenance plans, the supply of steel coils remains low. In addition, judging from recent data, downstream demand performance has improved compared with the previous period, and inventory continues to remain in a state of depletion. In addition, affected by the late-day rally, there has been a technical rebound, and the spot price may follow the upward adjustment. It is expected that steel prices will fluctuate strongly this week, with a range of 3-5 US dollars.
Please make timely orders according to the inventory situation. If you have any demand for color-coated steel coils, please contact us. We will provide high-quality, high-quality products and good services.