The market turnover is lower than expected, and the domestic steel market may decline

The market prices of major steel products fluctuated and went up. Compared with last week, the prices of rising products increased slightly, the prices of flat products increased slightly, and the falling products decreased. The domestic iron and steel raw material market fluctuated and consolidated. The price of iron ore rose by 15-30 yuan, the price of coke fell by 100 yuan, and the price of steel billet rose by 20 yuan.
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In the short term, the domestic steel market will present a pattern of “complicated external environment, positive domestic economic recovery, insufficient end demand, continuous introduction of multi-party policies, constant disturbance of leveling control policies, and frequent games of market supply and demand”.
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From the perspective of the supply side, due to the fluctuation of the steel market and the fluctuation of raw material prices, the willingness to release the production capacity of steel mills in the short term will continue to weaken, and the short-term supply side will show a slight decline.
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From the demand side, the traditional off-season is gradually turning into the peak season, and the social inventory of steel products continues to decline, but the market transactions are up and down, and the demand for stocking is not as good as expected. From the perspective of cost, the price of iron ore fluctuated and rose, the price of scrap steel became stable and strengthened, and the price increase and decrease of coke were partially implemented, so that the cost support remained relatively strong. It is predicted that this week (2023.8.28-9.1) the domestic steel market will fluctuate and decline under the influence of the weakening effect of short-term policy guidance and the market turnover falling short of expectations.