According to CISA statistics, the key steel enterprises in early June crude steel average daily output of 1.6847 million tons, the mid-ring growth of 4.5%. National estimates of average daily production of 1,999,400 tons of crude steel, 2.03% mid-ring growth. With the pre-digestion of high-priced raw material inventory, the part of small and medium-sized steel enterprises has been a certain profit margin. Steel production, limited production phenomenon rarely, it is expected that the average daily production of domestic crude steel in June will continue to be maintained at a high of 200 million tons. The country has entered the traditional consumption of high temperatures and rainy off-season, high crude steel production will make the market supply and demand further exacerbated.
Inventory, as of June 25, the domestic steel major cities of the social stock of 15.42 million tons, a decrease of 10,000 tons as compared to June 18, essentially flat with last week, the social stock of steel this week by the possibility of less conversed. Domestic rebar social stock of 6.66 million tons, a decrease of 37,000 tons, a decrease of 0.5% compared to June 18. Regionally, the Northeast the rebar social stock ring decreased 40,000 tons, the fastest rate of decline, the social stock of the Southwest and East China began to rise. From the inventory, the inventory last week showing sideways, all varieties of increase or decrease is limited.
The demand side, the terminal purchases began to fall. As of June 25, the week end purchases of 14,000 tons, the chain fell 45.6 percent. Terminal purchases rebounded slightly and continued to fall, did not form a continuous heavy volume. With the advent of the rainy season and the summer heat, the steel city needs to enter a relatively off-season, late steel market demand for the seasonal decline. Seasonal demand fall with the market price at the bottom of not reached a consensus this week, demand will continue to test the release. Short term, weak demand is difficult to price formation continued support.
The spot, one week the average price of rebar spot little change, but the domestic iron ore prices to rise significantly. June 26, the the rebar national average price of 4072 yuan / ton, compared to June 18 was down 2 yuan / ton. Qingdao Port iron ore spot price calculation model,, Jin Xincheng this profit to the national average price, net of tax estimates, June 26, rebar gross profit of 39 yuan / ton. Significant increase in domestic steel production makes the high price of iron ore, Platts index soared to a pre-$ 132.5 / t June 25, $ 139 / ton, allowing to estimate the gross margin down.
Data from the domestic point of view, the central bank cut interest rates, the recent real estate market pick up signs. But the attitude of the central regulation of real estate is still rigorous, no obvious signs of relaxation, real estate warmer still substantive policies. HSBC Chinese manufacturing managers' index in June announced an initial value of 48.1, less than five month-end value of 48.4, again to refresh seven month low, new export orders hit the biggest decline in more than three years, showing a decline in exports accelerated. External demand, domestic demand are weak, the domestic economy has not bottomed out phenomenon. From a fundamental point of view, despite the rebar current cost firm and inventory low price there are some support, but the downstream demand to support prices rose, drifted gradually weak steel prices still hard to get the support of the real needs of rebar futures prices will continue to oscillations downstream, continuing the pattern of run-time for space.
Other News:
Crude steel production picked up the contradiction between supply and demand is
The JISCO Technical Center of Special Equipment Inspection Station tapping the p
Analysis of stainless steel forging defects caused by heating improper
The latest news of the South China Sea: CNOOC bidding to develop the South China
The board stocks rose for two weeks bargain-hunting time comes?
The U.S. nuclear submarine emergent China, near Huangyan Island: the Philippine
Bohai steel hand Hanwa Co., Ltd.
Ao Jina synthetic lubricants cooperation projects with the Northeast Bureau of C
