How about the price of steel market this week

Source:2020-3-16

     On March 13, the average price of 4.75mm hot rolled coil in 24 major cities in China was 3508 yuan / ton, down 5 yuan / ton compared with the previous trading day. This week, the black commodity futures market rebounded from a low level, and the spot market quotation fluctuated in a narrow range.

    From the perspective of transaction, the low price transaction was acceptable throughout the week, while the high price transaction was a little weak. In terms of inventory, this week's inventory continued to rise, but the growth rate was significantly narrowed, and steel factory inventory declined. With the recovery of transportation, social inventory is expected to peak in 1-2 weeks. On the supply side, the output of steel mills continued to decline this week. The profit of steel mills is currently on the edge of the line. With poor orders, some steel mills took the initiative to reduce production, but there is limited space for subsequent price decline. On the whole, this week's hot rolling price fluctuates in a narrow range, which is a short-term dilemma. However, the external environment is not good, which will also have an impact on industrial products. The turning point of inventory will still be the focus of attention. It is expected that the hot rolling coil price will still be under pressure this week.

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