Unfavorable start to Monday, a slight decline in steel prices does not mean a turnaround

The steel market is generally weaker today. Threads and hot coils fell slightly in many places, profiles, medium plates and other varieties fell slightly, while cold-rolled, coating and other varieties were temporarily stable.
As the disk gapped and opened low and continued to fall, the spot market trading was affected to a certain extent, and the overall trading performance was average. In the afternoon, with the rebound of the disk, the low-priced shipments have improved to a certain extent, but in general, the terminal purchases are mainly on demand, and there is basically no speculative demand.
(To learn more about the impact of specific steel products, such as Wholesale Galvalume Steel Coil, you can feel free to contact us)
Two days after the weekend, the market opened on Monday, and the price fell again, and the market sentiment was no longer bullish on a large scale last week. But in terms of time, the short-term iron ore inventory of steel mills is low and needs to be replenished, and the impact is also being digested. The trend of iron ore on the disk is still relatively strong, stronger than that of thread and hot coil.
(If you want to know more about the industry news on Galvalume Steel Coil Factories, you can contact us at any time)
However, on the other hand, the cost support will increase, and the loss of steel mills will further increase. Steel mills have already competed with three rounds of coke price cuts, and there is not much room to make up for it from coke. Iron ore is relatively strong and needs to reduce production. Further play the role of supply. At present, it is just digesting macro expectations and entering a shock adjustment.
(If you want to get the price of specific steel products, such as Galvalume Steel Coil Suppliers, you can contact us for quotation at any time)
From the current point of view, raw material costs, inventory, and market resource structure do not support a sharp decline, so the room for decline is limited.