From a fundamental point of view, the inventory of construction steel in key cities across the country has rebounded this week. Among them, East China and Northeast China have a larger increase, with an increase of 169,000 tons and 103,200 tons respectively on a week-on-week basis; individual regions have a small increase in inventory, and North China has a weekly increase. An increase of 88,700 tons, and a week-on-week increase of 57,200 tons in the southwest region. The spot price fluctuated stronger this week, and downstream demand basically stagnated.

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First, at the beginning of the week, the central bank lowered the winning interest rate for MLF operations and 7-day reverse repurchase operations by 10 basis points, and monetary policy was loose, boosting the steel market.

Second, the market is cautiously optimistic about the market after the year, and the mood has improved. (To learn more about the impact of specific steel products, such as Galvanised H Beam, you can feel free to contact us)

Third, the steel mills have a strong willingness to support prices. As the Spring Festival holiday is approaching, the market is closed one after another, and downstream demand is basically stagnant. In terms of steel mills, electric furnace plants in the southern region have been shut down and overhauled one after another, lasting about 20 days. In the later stage, we should focus on the production situation of steel mills and the news on policy. Based on the above analysis, it is expected that the domestic construction steel market will be stable this week.

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