Showing the trend to accelerate the decline in domestic steel market in July, despite the end of a slight rebound in the Steel City in August but due to weak demand, the market is expected to still pessimistic. Insiders pointed out that the relationship between supply and demand is the decisive factor in the domestic steel market trends, only the relationship between supply and demand improved and improving the balance, the market can rebound from the doldrums to.
According to monitoring data, in July steel composite steel price index is 148.2, the chain fell 7.8 percent decline last month to expand 6.5 percent. That same month, the average price of steel per tonne of steel is 3853 yuan, down 328 yuan, has returned to the level of the end of November 2009. The same time, the social stock of steel 15,810,100 tons, an increase of 319,000 tons as compared to June.
The analyst pointed out that the traditional off-season in the weak demand, the steel market, steel market has experienced during the year the largest market slump, futures, electronic trading is the sharp decline in the futures price change from a weak shock decreased significantly, and below 4000 yuan / ton.
Slump in steel prices, steel mills maintenance scale also increased. The data show that the number of steel production line maintenance in July compared to June decreased slightly, but the number of blast furnace repair significantly increased. July long timber overhaul cuts expected to affect the yield of 680,000 tons, an increase of 430,000 tons as compared to June; plate (including strip) overhaul cuts expected to affect the production of 480,000 tons, 460,000 tons less than in June; blast furnace overhaul cuts expected in July affecting the yield of 588,000 tons, the yield reduction is relatively small compared to the crude steel production of over 6000 tons per month.
Steel demand in August is still the traditional off-season, the current efforts to support cost-to-steel prices continue to weaken, the contradiction between supply and demand pressures are still hard to cut, in August, the ex-factory price of Baosteel, Wuhan Iron and Steel, Anshan Iron and Steel, sand steel and other large and medium-sized steel enterprises are also down to the main . Insiders pointed out, is expected in August, the domestic steel market will continue to bottom, the rate may be higher than in July narrowed. With the fall construction season arrival in September and October, domestic steel demand will be released.
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