Market prediction for China GI Steel Coil
Today's Steel Price Trend
Hot rolls steel coil fell slightly.
The market price continued to fluctuate slightly, and the market price continued to decline slightly. The merchants suffered severe losses, were very cautious, and their enthusiasm for buying goods dropped significantly. They took a wait-and-see attitude towards the later market. The futures market is running weakly, and prices are expected to fall slightly.
Billet execution lock price
In the black period, the snail held green and moved lower the market pessimism spread, and the phenomenon of low-cost shipments by traders increased. In terms of finished products, there were both ups and downs, and the market price was loose again. There were very few inquiries from merchants, and most of them were not sold yet. The phenomenon of maintenance and production reduction in downstream steel enterprises has increased, and the demand for steel billets is limited. Considering that the cost pressure of steel mills is still in search, manufacturers are unwilling to lower prices, and it is expected to continue implementing the price lock policy.
Iron ore is stable and weak.
Affected by the recent decline in foreign mines and the increase in coke, the purchasing pace of steel companies has slowed, most of which are price reduction operations. At the same time, buyers such as trade are mostly wait-and-see, with fewer inquiries, and market prices continue to fall. As a result, the market is generally traded, and the mine price is expected to be stable and weak.
Comprehensive advice
The domestic macroeconomic benefits are still in the process of landing, and the monthly data shows a recovery momentum. However, the growth rate of the leading indicators is still at a low level. From the perspective of changes in positions, the changes in futures snails and futures volumes are bearish. The Federal Reserve raised interest rates by 75 basis points, and Powell said that 50 or 75 basis points might raise interest rates in July; this week, the country's five major finished steel mills and social inventories continued to increase, and apparent weekly demand continued to decline; China GI steel coil prices are expected to remain weak.
