![<?echo $_SERVER['SERVER_NAME'];?>](/template/twentyseventeen/skin/images/header.jpg)
The latest domestic economic operating data shows that crude steel production reached a new high. Overcapacity needs to be paid attention to is undoubtedly the reason for the continued decline in steel prices, while leading steel mills such as Baosteel and Wuhan Iron & Steel announced flat prices in June and most other steel mills lowered their prices. It further stimulated the psychology of price drop by merchants, so the decline in steel prices has increased.
Among them, the decline in the price of construction steel such as rebars and wire rods exceeded expectations. In the futures market, the main thread contract 1010 plummeted from the previous Friday's closing price of 4,545 yuan/tonne to 4,367 yuan/tonne last Friday's closing price; the plunge in futures prices made the sentiment of the spot market businesses worse, and the phenomenon of low cargoes in the market was widespread. The more drastic declines were in the Beijing and Wuhan markets, where the price of rebar fell by around RMB 300/t during the week and the rest of the market had a larger drop of RMB 100-200/t.
The property market adjustment policy is undoubtedly the direct reason for the performance of construction steel prices. Under the influence of a series of domestic and local property market regulation policies in the near future, the domestic property market turnover has fallen to a low point, the impact has gradually emerged, and the support for the building materials market has gradually weakened.
The prices of flat rolled steel such as hot-rolled and cold-rolled steel are also falling. It is common for low-position goods to be thrown by merchants in the spot market. Among them, hot-rolling was the main force leading the decline. In the hot-rolled market, the prices of main products of hot rolled Shanghai and Tianjin fell by RMB 200/t from the previous week.
It is worth noting that at present, some steel mills have begun to arrange overhaul and reduce production to control losses.
Among them, the decline in the price of construction steel such as rebars and wire rods exceeded expectations. In the futures market, the main thread contract 1010 plummeted from the previous Friday's closing price of 4,545 yuan/tonne to 4,367 yuan/tonne last Friday's closing price; the plunge in futures prices made the sentiment of the spot market businesses worse, and the phenomenon of low cargoes in the market was widespread. The more drastic declines were in the Beijing and Wuhan markets, where the price of rebar fell by around RMB 300/t during the week and the rest of the market had a larger drop of RMB 100-200/t.
The property market adjustment policy is undoubtedly the direct reason for the performance of construction steel prices. Under the influence of a series of domestic and local property market regulation policies in the near future, the domestic property market turnover has fallen to a low point, the impact has gradually emerged, and the support for the building materials market has gradually weakened.
The prices of flat rolled steel such as hot-rolled and cold-rolled steel are also falling. It is common for low-position goods to be thrown by merchants in the spot market. Among them, hot-rolling was the main force leading the decline. In the hot-rolled market, the prices of main products of hot rolled Shanghai and Tianjin fell by RMB 200/t from the previous week.
It is worth noting that at present, some steel mills have begun to arrange overhaul and reduce production to control losses.
Chiefstone Commerce & Trade Co., Ltd. , http://www.wzweldingmachine.com