Since mid-March, steel spot prices have repeatedly hit new highs. Compared with early April, the market prices of 50 important means of production and 27 products in the national circulation field have increased. After the year, the price of steel has increased by more than 1,000 yuan per ton from last years low.
What is supporting the rise in steel prices?
1. State-owned enterprises continued their recovery growth since the second half of last year, with stable and orderly production and operation, new highs in operating efficiency, and a "good start" in the first quarter. Net profit hit a record high over the same period in history.
2. The market demand is large, the supply and demand are small, and the depot speed is fast. In addition, the Tangshan environmental protection production limit makes many steel mills dare not increase production too much, which indirectly leads to an increase in steel prices, which leads to greater financial pressure on traders, and many traders lower The percentage of advance payment for steel prices.
According to data tested by the Iron and Steel Association, at the end of March, the price of finished steel products increased by 5.78% month-on-month, and the price of steel plates increased by 8.13% month-on-month. Social inventories continued to decline. As of last week, the national social inventory of the five major steel products reached 18.84 million tons, which has fallen for 5 consecutive weeks.
Under the influence of the global epidemic, the uncertainty of the consumption in various regions has been caused, the mismatch of resource supply on a global scale, and the high prosperity of the manufacturing industry have promoted the demand for steel and the rise of raw materials.
How will steel prices develop in the future?
Southwest and South China regions have strong steel demand and supply shortages, and scrap steel will continue to stay at a high level. However, taking into account the gradual synchronization of supply in the later period, we must beware of the decline in scrap prices;
Under the background of "carbon peak" and "carbon neutrality", the production capacity of bulk commodities such as steel will be further reduced. With the better control of the domestic epidemic situation and the continuous popularization of vaccines, the recovery speed of the manufacturing industry will be further accelerated. In the later period, the prices of bulk commodities such as steel may continue to rise.
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