Nissan of crude steel exceeds 3.08 million tons! Can supply and demand contradictions and amplify the steel market still rebound?

Today’s steel prices are mainly rebounded slightly, and the spot performance is not as good as futures. In terms of varieties, there are many varieties such as threads, hot rolls, and middle boards of 10-30 yuan, and cold-rolled and galvanized varieties are relatively stable. Generally, the market confidence is still insufficient. The performance is not strong, and the spot shipments have weakened after the market falls.
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As soon as the market opened, the market continued to trade macro -favorable expectations. However, after the introduction of economic data in the first quarter, the market appeared significantly, which drove the emotions of the spot market to weaken. The overall rhythm of the market is still “shock+rebound”.
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From the perspective of specific data indicators, there is also a certain pressure. appears in:
The first is that there are insufficient constraints in domestic demand, and the foundation of economic recovery is not yet firm.
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The second is that the data reflects the recovery of rapid supply, the contradiction between the strong production and the slow demand.
From the current point of view, the announcement of economic data today is lower than market expectations. The spot price of steel is weak, and local hot rolls and threads have declined slightly in the afternoon, showing that the current contradiction between supply and demand has increased. Looking at it later, if the demand is still poor than the supply, if the steel mill is not reduced, the negative feedback space given in combination with coke and scrap steel is shifted down, and it is difficult to ensure that the price of steel will not drop anymore. In the short term, the market has fallen in two rounds. The market has macro -strength expectations, but the power is not enough. It is temporarily adjusted. If the market continues to rebound slightly, the spot is possible to follow, but the space is limited, and you still need to be cautious.