How about steel price trends this week

Looking back at the steel market last week, the overall situation showed a concussive operation. The comprehensive steel price index rose by 8.36 points, of which cold and hot rolling rose by 59 and 50 points, mid-plate rose by 3 points, thread and wire fell by 30 points and 22 points respectively, showing a clear pattern of plate strength and long material weakness.

In terms of raw materials, the price index of iron ore and scrap fell by 2.2 (US dollars) and 12.4 points respectively; the coke index rose by 43.6 points, and the differentiation was obvious.

Looking forward to the steel market this week, it will show a trend of oscillating operation, and the prices of finished steel products will be stronger than the raw material.

The main reasons include: first, the pressure on the fundamentals of finished steel products is gradually reduced, the supply is easy to reduce, and the market pressure is alleviated; secondly, the inflection point of the fundamentals of iron ore has gradually emerged, which is bound to be under pressure or form a drag on the entire raw material market. It also affects the strength of finished materials. Third, the profit arbitrage strategy of multiple steel mills may, to a certain extent, make the performance of the finished steel products relatively stronger than the raw material.

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