Steel Coil Market And Price Forecast

With the advancement of steel mills' resumption of production, the fundamentals of iron ore supply and demand in May are expected to further improve. There is a high probability that port inventories will stop increasing and turn down, and the fundamentals will provide certain support for prices. However, demand for downstream steel products in May is facing challenges during the rainy season. The current decline in finished product inventories is highly dependent on low production. Hot metal production continues to recover in May, increasing demand for iron ore. Iron ore prices have rebounded sharply, with strong support from the cost side. , pushing the price of finished products higher, which is good for the price trend of steel.
China's domestic local bond funds are gradually being implemented, news of easing purchase restrictions in various cities has been frequent, and the superimposed export data is eye-catching. Macroeconomic policies and production resumption logic have driven the rise in raw materials. According to market news, coke has increased for the fifth time this week, and costs have driven up steel prices. On the other hand, from the perspective of finished products, the total inventory of the five major materials continues to be restocked, and the total inventory is at a new low in the past three years. In particular, thread inventory continues to decline, production is low, the shortage of specifications in the steel coil market is increasing, and the steel coil market has a highly bullish sentiment. It is expected that the price of galvanized steel coils will be stable and strong this week, with a range of 10-20 yuan/ton. Jingtai Steel Coil specializes in providing high-quality steel coils. Please contact us if you have any needs.