Industry News

Review of the Market: The market is expected to be cautious and positive, and prices fluctuate at high levels in the short term

Currently, the global economy is slowly recovering. In July, the global manufacturing PMI was 51.3%, a month-on-month increase for three consecutive months. At the same time, the domestic economy has accelerated its recovery, market sentiment has continued to recover, and the implementation of favorable macro policies has accelerated. The author believes that under the guidance of demand, policy "escort", and funding, steel prices will fluctuate upward during the year and are expected to hit annual highs in October and November. The overall steel market will present a pattern of "strong macroeconomics, strong demand, low profit, high cost, high supply, and high inventory".

This week, domestic coated coils continued to rise. The price of galvanized coils rose by RMB 22/ton from last week, and the price of color coated coils remained the same. As of August 28, the national average price of 1.0mm*1250*C galvanized coil is 4755 yuan/ton, and the average price of 0.476mm*1250*C national color-coated coil is 5973 yuan/ton. According to feedback from the northern market, due to the large price adjustments of Shougang and other large steel mills, traders have to follow the price increase in consideration of the order cost next month. In terms of transactions, prices have risen rapidly recently, and downstream purchases are cautious.

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