On June 10, most of the domestic steel market rose, and the ex-factory price of Tangshanpu billet rose by 20 to 4980 yuan/ton.
This week, the black futures market declined first and then rose, leading to a gradual improvement in steel market transactions. Market confidence has been boosted, and many local merchants have increased steel prices.
On the supply side, according to Mysteel\'s research, the output of large-variety steel products this Friday was 11.0434 million tons, an increase of 45,900 tons on a week-on-week basis.
In terms of demand, the apparent consumption of large varieties of steel this Friday was 10.970,800 tons, a week-on-week decrease of 551,300 tons.
In terms of inventory, the total steel inventory this week was 19,873,300 tons, an increase of 72,600 tons on a week-on-week basis. Among them, steel mill inventory was 6.0349 million tons, an increase of 161,400 tons on a week-on-week basis; social inventory was 13.8384 million tons, a decrease of 88,800 tons on a week-on-week basis.
Since June, demand for steel has been unstable, low-priced resources have been traded well, and high-priced resources have been poorly traded. At the same time, the supply of the iron and steel industry has not fluctuated much, and the overall trend has been small expansion. In addition, the price of raw materials such as iron ore remains high, and the cost still supports the price of steel. In the context of relatively balanced supply and demand in the steel market and high costs, steel prices may still fluctuate repeatedly. Although there is a phased rebound, it is difficult to continue to rise.
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