This Week’s Color-coated Steel Coil Market Forecast

On the macro level, China's Ministry of Finance issued ultra-long-term special treasury bonds, various cities and towns subsidized trade-in, and policy warming continued to support steel prices. However, industrial-end steel companies have increased their resumption of production, steel production has continued to rebound, and the inventory of the five major mainstream steel varieties has been reduced in the past two weeks. Slowing down, terminal demand fell back in May due to the off-season for traditional steel consumption.
From May 6 to May 12, the total global iron ore shipments were 30.029 million tons, a month-on-month decrease of 1.238 million tons or 9%, which was at a low level in the past four weeks. This was mainly due to the sudden drop in Australian shipments of 2.385 million tons to 18.176 million tons. In addition, Brazil's shipments dropped slightly to 6.279 million tons, but iron ore shipments in non-mainstream areas increased by more than 1.2 million tons to 5.573 million tons, a six-week high.
As Australia's shipments fell, global iron ore shipments fell to a recent low. Domestic iron ore mainly relies on imports, which greatly boosted the market's bullish expectations in terms of sentiment and pushed iron ore futures to stop falling and rebound. At the same time, driven by iron ore, the cost of steel companies remains high, the ex-factory price of steel mills is firm, and market terminals are mostly replenishing stocks on demand. It is expected that the price of color-coated steel coils will rise steadily this week, with a range of 10-20 yuan. /Ton.