Market review
Spot prices have risen one after another this week, driven by the disk, of which the spot price of hot rolls in the Beijing market has increased by 120 yuan / dun compared with last week, but some steel traders said that although the price rose, the shipping situation was general, the market mentality was cautious and optimistic, and the terminal purchase was dominated by rigid demand. How will the steel price go next week? look down.
01
Price fluctuation
This week is 4.FinalfightvideogameThe spot stock of .75 mm hot-rolled coil rose the most in Beijing, reaching 120 yuan / ton.FinalfightvideogameXi'an market rose the least, up 20 yuan / ton; 1.0mm cold rolling rose weaker than hot rolling, most markets rose by 10-40 yuan / ton.
02
Market trends
1. From January to March 2024, national fixed asset investment totaled 10.0042 trillion yuan, an increase of 4.5 percent over the same period last year, and the growth rate was 0.3 percent faster than that of January-February. Of this total, investment in the manufacturing industry grew by 9.9%, accelerating by 0.5%, and infrastructure investment by 6.5%, with a growth rate of 0.2%. Good steel price
2. Liu Sushe, vice minister of the National Development and Reform Commission, said that in the next few years, ultra-long-term special treasury bonds will be issued continuously for the implementation of major national strategies and security capacity-building in key areas. we will continue to implement it step by step, promote it in an orderly manner, and issue 1 trillion yuan of ultra-long-term special treasury bonds in 2024. Good steel price
3. The operating rate of blast furnace in steel mills this week was 78.86%, an increase of 0.45% over last week, a decrease of 5.73% over last year; the utilization rate of blast furnace ironmaking capacity was 84.59%, an increase of 0.54%, a decrease of 6.91% over the same period last year; the profit rate of steel mills was 48.48%, an increase of 10.38% compared with the previous week, and an increase of 6.06% over the same period last year. The average daily output of hot metal was 2.2622 million tons, an increase of 14700 tons over the previous month, a decrease of 196600 tons over the same period last year. Good steel price
03
Market summary
The spot price of hot rolls is relatively strong this week, showing an overall upward trend. at the beginning of the week, the black system showed a volatile trend, and spot prices around the country were mainly stable, but as of Wednesday, with the introduction of various positive data in the country, futures prices took the lead to pull up, and spot quotations around the country also rose accordingly. In the late week, the market continued to fluctuate, after a sharp rise in April, the downstream demand side held a cautious attitude, procurement more rigid demand, many steel traders said shipments were general.
This week, the cold-rolled coil market quotation is mixed, the overall slightly higher. This week, the black system as a whole is still in the rising channel, iron ore performance is strong, coke rose and landed, spot quotations are rising under the support of the cost end, but the actual market demand has not changed much, and most traders say the transaction is relatively average.
04
Forecast for next week
On the cost side, iron ore rose strongly this week, coke rose, and coking coal supported steel prices to a certain extent.
On the demand side, the manufacturing industry continues to introduce equipment renewal and "trade-in" policy, the cumulative export of steel increased significantly from January to March, and the plate market demand is still in a high position.
At present, the market is still rebounding, and the strong price of raw materials and the rebound of downstream demand have boosted confidence in the future. Taking into account the demand for replenishment from businesses before May Day, market prices are easy to rise and difficult to fall next week. It is expected that the spot price of plate will rise steadily next week, with a range of 10-20 yuan.
