It is predicted that last week the central bank announced the rate cut, some good market mentality, but this week will release the first half of the economic data, the market generally expected to be more pessimistic. Short-term hot-rolled coils or continuation of a steady weakening trend.
Monitoring data show that last week the price of hot rolled continuation of the previous decline, the country's 24 major markets on the 6th the Q235B 3.0mm hot rolled average price of 4220 yuan/ton, compared with the previous trading day price declines of 8 yuan/ton, weeks is down 35 yuan/ton; of Q235B 4.75mm hot rolled coil average price of 4109 yuan/ton, 5 yuan/ton on the day prices fell, is down 35 yuan/ton last week.
Last week, the domestic steel market weakness diminished, sand steel and around the leading steel have reduced prices. Around the prevalence of high temperatures inhibit the formation of the demand for steel.
This week, the domestic first-half economic data, is widely expected data performance may be poor. Premier Wen Jiabao in Jiangsu research also stressed that the firm of real estate regulation, to curb speculative investment demand, and never let the price rebound, the late real estate regulatory efforts is likely to increase. Concerns of policy and data may increase the market sentiment.
On the other hand, the inventory of hot rolled coil last week finally fell slightly, but still hard to alleviate the pessimism of the market price. Short-term expected prices will remain stable and weaker.
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