Countdown to the holidays! This week’s steel price trend is confirmed…

With the prices of iron ore and coal at a high level, the amount of steel used in downstream terminals continues to weaken, and the operating difficulties of steel mills have increased, production enthusiasm has declined, market supply has weakened, some specifications are out of stock in the market, and orders from some merchants have been suppressed. Willingness has been boosted, which is good for steel prices to rise.
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The state focuses on supporting economic development. Many cities have set a GDP growth target of over 5.5% in 2023. In order to achieve the target value, various financial policies have been issued in advance. All cities are full of confidence in economic recovery, driving a solid foundation for the industry, growth momentum, and economic development. Lay the foundation, expand the demand for steel products, and benefit steel prices.
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A number of macro policies have been gradually implemented. Real estate is an important area for economic recovery and development. A number of financial policies have promoted the inflow of funds from real estate companies, revitalized the real estate market, expanded domestic consumer confidence, increased steel demand, and benefited steel prices.
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With the change of the epidemic situation, restoring economic development has become the top priority. Under the guidance of favorable macro policies, many cities have issued economic targets for 2023. With the help of various financial policies from the China Banking and Insurance Regulatory Commission and the Central Bank, the liquidity of market funds will be maintained and domestic demand will be expanded. At the same time, under the influence of the high cost of iron ore and coal, the losses of steel enterprises have increased, and the number of shutdowns for maintenance has increased. It is estimated that the output of crude steel will reach about 1.01 billion tons in 2022, a year-on-year decrease of 2.2%, and the market supply will decrease. The price may fluctuate strongly.