In the short term, there is still downward pressure on domestic steel prices, and the contradiction between supply and demand in the late steel market is still outstanding

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Source: Date:2016-10-05

Domestic spot steel market has entered the traditional cold season, shopping malls are weak, steel prices are still falling. Imports of iron ore prices continue to decline, has fallen to the highest level since October, a phase of low.
In recent weeks, the domestic spot steel price index closed at 129.27 points, down 0.81% in one week. By the steel futures market fell across the board, the spot steel market mentality disappointed, merchants quote gradually fall. At the same time, the end users in the purchase of wait-and-see mood stronger, shopping malls all weak. Now, although the steel inventory pressure is not too big, the new capital to still need time, but the market expected steel mills production will speed up, the contradiction between supply and demand of the late steel city is still outstanding.
According to the analysis, in the construction of steel shopping malls, the quotation dropped substantially. Shanghai, Hangzhou, Guangzhou and other places dropped 10 yuan to 130 yuan a week. Can be seen from Shanghai and other places, shopping malls in the capital are emerging at a cheap price. Although the store inventory pressure usually, some products even have capital tight situation, but the market turnover performance is still poor, weak market mentality.
In the sheet market, the quotation is also all down. Hot rolled coil quotation is mixed, Shanghai, Hangzhou, Guangzhou and other places, the price of a ton fell 10 yuan to 80 yuan a week, while Beijing, Tianjin, Handan and other places offer slightly higher. In many regions, the terminal acquisition rate is slowing, shopping mentality turned bad, business quotations show loose. Plate prices fell significantly, Shanghai, Hangzhou, Wuhan and other places, tons of prices fell 10 yuan to 120 yuan a week. The mall mentality not beautiful, all traded more often.
Iron ore shopping malls are also in the downlink channel. According to the latest statement, in the domestic ore shopping malls, Hebei area iron ore prices are basically stable. Now, the domestic steel mills are increasing the use of imported ore share, domestic ore need weakening. Import ore prices continued to fall, to 1, Platts 62% grade iron ore index closed at $56.4 per ton, fell 1.6 U.S. dollars a week, hit a new low since October 11th of the year. At that time, the port imports ore spot capital is very enough, the total inventory exceeded 1.4 tons mark, steel mills do not have much replenishment volunteer, to buy on demand.
Relevant organization analysis thinks, at that time the domestic steel market into the traditional cost cold season, high temperature and rainy season for all steel needs will constitute a certain influence. In the high profit situation, the steel mill is still active in production, domestic steel prices in the short term still have downward pressure.