My steel: Last week, the domestic steel market was running at a high price shock. At the present stage, the driving force of the price rise of finished products has obviously weakened, and the performance of the demand side has begun to show a certain downward trend. In addition, the current spot price level is generally high, so the market spot merchants are afraid of heightened sentiment, and the main operation is delivery to get cash back. Secondly, the current market inventory resources pressure is relatively small, and the cost of follow-up resources replenishment is not low, so even on the premise of delivery, price concession space is limited. Considering this week's approaching May Day holiday, terminal purchasing or some early release, the overall market mentality level is still supported. Comprehensive forecast, this week (2019.4.22-4.26) domestic steel market prices maybe maintain high volatility operation.
Mr. Han Weidong, deputy general manager of Youfa Group: The economic data released a few days ago were better than expected. According to the information from the meeting of the Political Bureau of the Central Committee at the weekend, China's economy has reached the bottom and stabilized. With the conclusion of Sino-US trade negotiations, the economy will be basically secure in the future. Crude steel production in March is still not high, in line with expectations. Since April, demand has not been as hot as March, but it is still much higher than the same period last year. Last week, the market price first restrained and then rose. Many people think that the production restriction is only an incentive. Now is the peak season, with a few days of poor sales, it will certainly accumulate greater demand. Before the surge, there will be no sharp fall. Now, the steel plant start-up rate has not returned to the normal level, how can the market reverse? The market is still in shock waiting. The recent environmental protection limited production, the Beijing area one meeting,and the May day long holiday will disturb the market, but the market movement situation remains unchanged. Relax, work harder, and then go on vacation!
Post time: Apr-22-2019