Since May, domestic steel prices have experienced a continuous surge and a continuous slump, near the end of the month, steel prices once again appeared a steady rise.
On May 31, the domestic steel futures market out of three consecutive positive trend, rebar steel, hot rolled coil futures peak exceeded 5100 yuan/ton and 5500 yuan/ton, iron ore rose more than 5%, successfully stood on the 1100 yuan/ton mark above.
May 31 evening, rebar, hot rolled coil futures main contract fell slightly, iron ore prices continued to rise sharply.
Spot market, steel prices also have a relatively significant rise. According to Lange cloud business platform monitoring data show that on May 31, the average price of 25mm three-level rebar steel in key cities in China was 5188 yuan/ton, up 166 yuan/ton compared with last Friday. On May 31, the price of construction steel, hot rolled coil and cold rolled coil in major cities in China rose by more than 100 yuan/ton.
Five small holiday return, domestic steel prices staged a continuous surge, steel traders repeatedly increase prices; Since then, the spot price of rebar has refreshed the highest point in history, with a cumulative increase of 1027 yuan/ton and a maximum one-day increase of 460 yuan/ton.
The unexpected price surge attracted the attention of the regulatory authorities. Since May 12, the National Committee, the National Development and Reform Commission, the China Iron and Steel Association, the Ministry of Industry and Information Technology and other relevant departments and institutions have shouted that the steel market began to fall in a row, and in just half a month, all the gains since April have been erased.
Wang Jianhua believes that since the middle of May, the rapid decline in steel prices has led to a serious low steel prices, to the end of May, some regions and some markets steel prices have been lower than the cost of steel mills.
Wang Jianhua pointed out that in June, due to the loss of some types of steel mills and the phenomenon of increased maintenance, coupled with the production capacity to look back and other factors, steel market supply will fall from the high end; Demand in June will be mixed but still positive overall, as global steel demand remains strong and previously suppressed demand due to high prices will be released.
Source: 21st Century Business Herald
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Post time: 03-06-21