Share The Factors Affecting Galvanized Prices This Week

Factors influencing galvanized steel prices this week:
1. Macroeconomic Outlook: The Federal Reserve cut interest rates by 25 basis points as expected, and the dot plot indicates two more rate cuts this year. Policy remains accommodative, but short-term adjustments are being made to mitigate against lower-than-expected low-price competition. China is emphasizing the need to address the chaotic situation of low-price, disorderly competition among businesses. The market anticipates the implementation of policy-based financial tools, the overall reserve requirement ratio, and interest rate cuts. This week, galvanized steel coil prices fluctuated between 10 and 30 yuan.
2. Supply-side: Hot metal production increased by 4,700 tons to 2.4102 million tons, while production of the five major steel products decreased by 17,800 tons to 8.5546 million tons. The slight increase in hot metal stabilized demand for iron ore, while the decline in production of the five major steel products provided some support for the bottom of steel prices. 3. Demand: Total inventories of the five major steel products increased by 51,300 tons to 15.1974 million tons, while apparent demand increased by 70,000 tons to 8.5033 million tons. While the weekly increase in apparent demand is positive, the continued increase in inventory and the supply-demand imbalance remain, potentially restraining the upward trend of the steel market.
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