Steel Market Forecast

Supply side: According to MySteel research, the production of large varieties of steel on Friday was 10.5735 million tons, an increase of 60,000 tons from the previous week.

Demand: Apparent consumption of large varieties of steel on Friday was 12.2729 million tons, an increase of 133,000 tons month-on-week.

Inventory: total steel inventory of 26.2556 million tons this week, a decrease of 1.6994 million tons week on week. Among them, the inventory of steel mills was 7.417,200 tons, 832,900 tons less than that of the previous week; The social stock of steel was 18.83884 million tons, 866,500 tons less than the previous week.

In early April steel market supply and demand for the basic good, steel stocks accelerated decline, the market bullish atmosphere. However, after the rapid rise in steel prices, the recent terminal on-demand procurement, speculative demand reduction, short term steel prices or shocks weak operation.