Another round of ferrous metals opened higher and lower

Continuing the volatile trend on Monday, as the disk continued to fall, the spot once again ushered in a trend of both volume and price falling.
There were more news in the day, and the long and short factors were poor, which led to the decline of the disk. The continuous downturn in the real estate market has increased the release of pessimism about demand in the industry.
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But fortunately, the supply-side data is favorable, and the overall trend of reduction is maintained. China’s crude steel output in July was 81.43 million tons, down 6.4% year-on-year; from January to July, crude steel output was 609.28 million tons, down 6.4% year-on-year. It is expected that the data in August may slow down. At present, steel mills are in the rhythm of resumption of production, but the progress of resumption of production is slow.
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Judging from the recent weather conditions in various places, the continuous high temperature in the south will continue to affect the construction progress; the flood season in the north will affect the construction progress on the one hand, and negatively affect the mining of raw materials on the other hand. In the later stage, we need to pay attention to the changes in the overall output of coal, and it cannot be ruled out that the supply side will be tight.
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In general, the price will continue to face continuous fluctuations in the near future. There are many short-term long and short news, and the market has many doubts about the later trend. However, because there is no U-turn trend on the disk at present, the possibility of short-term high volatility is still high.