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June steel sales in the off-season, the market bearish atmosphere is getting stronger
The domestic spot steel market has clearly differentiated, and the varieties have been mixed. Especially for sheet metal, due to the weak demand in the downstream automobile, home appliance, shipbuilding and other industries, the expectation of bearishness of the business has been aggravated. According to the latest market report provided by the well-known steel information agency “My Steelâ€, entering June, the traditional “off season†of steel sales is coming soon, which will further reduce the space for steel price to surge. According to monitoring, the domestic steel spot market was mixed in the last week before the holiday. In the plate market, due to the weak performance of the downstream automobile, home appliances, shipbuilding and other industries, the market turnover is very small, and the demand for continued sluggishness makes the business-oriented business-oriented businesses have a bearish expectation and a bad mentality. People in the market report that more and more businesses feel that “the pressure on funds is largeâ€, but they have to “enlarge the bargaining space†to stimulate the transaction. In contrast, the mentality of the construction steel market is better, the market inventory has also declined, and some businesses even have the "reluctance to sell" mentality. According to analysis, the domestic construction steel market has slightly strengthened in the consolidation, especially in the northern region, and most of the prices of “low-cost resources†in the southern region have begun to rise. Some leading steel mills have introduced guidance prices in early June, most of which are mainly based on cautious increase, and have not exceeded the market's ability to withstand. The inventory level of construction steel is kept in the decline channel, and the sales pressure of spot dealers is not large. Considering that “it is about to enter the off-season of demandâ€, the merchant’s willingness to place orders is generally not strong. The price of the hot-rolled coil market continued to fluctuate within a narrow range, with a slight decline overall, downstream demand continued to slump, and the overall market turnover was average. Shagang has announced the ex-factory price of hot rolling in June, and some varieties have the same price, and some tons have been lowered by 30 yuan. According to market analysts, in some hot-rolled products, the cost of traders and the market price are still "upside down", and some tons of price hung up to about 180 yuan. Overall, the downstream demand for hot rolling has not improved. The cold-rolled market continued to be weak, with a sharp drop in local areas and a sluggish demand. Merchants generally “look-out†in the market. Previously, “restriction of electricity†was considered to be a positive factor in the “reduction of supply pressure†in the steel industry, but in a step-by-step, power cuts also affected the production of some downstream steel users, which would reduce the demand for steel to some extent. The recent cold rolling coil market continues to be sluggish, and the key factor is that “demand is not goodâ€. In addition, the price of international cold-rolled products has fallen sharply in the near future, and the “spread†at home and abroad has shrunk. Together with the summer vacation in Europe and the United States and the heat in Southeast Asia, the export prospects of China's cold-rolled products in June tend to be bleak. According to the judgment of the institutional personnel, after entering June, the traditional off-season demand will further reduce the space for steel prices to surge. Hot-rolled and cold-rolled sheet products will face greater risk of callback. In the case that the contradiction between supply and demand has not been effectively improved, and the operating environment of the steel market is generally empty, the steel price can only continue to seek the bottom in the shock.