At present, the domestic steel market is obviously affected by the contraction of downstream demand, the demand for industrial steel has dropped significantly, the demand for real estate steel is relatively weak, the demand for infrastructure steel has not recovered enough, and domestic enterprises are subject to high costs, and corporate profits are constantly being compressed. The willingness to continue investing is not strong. In the past week, the continuous release of loan interest rate adjustments to stabilize the real estate industry, especially the downward trend in LPR with a maturity of more than 5 years, will support rigid and improved housing demand, reduce the pressure on residential mortgage interest rates, and stabilize investment, consumption and macroeconomic fundamentals. Promote the steady and healthy development of the real estate market. For the domestic steel market, the continuous introduction of policies to stabilize the real estate industry will obviously stabilize the domestic steel market’s sentiment towards the release of downstream demand, but the slow destocking of steel stocks is also a reality that spot merchants have to face.
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From the perspective of the supply side, due to the recent decline in the price of finished products, some steel production enterprises have suffered losses, which has triggered the maintenance and production reduction of steel plants, and the pressure on the supply side will be reduced. From the perspective of demand, the resumption of work and production in various regions is still in the process, but due to the long supply chain of manufacturing enterprises, it may face the situation that it is easy to resume work and difficult to reach production in the short term, thus limiting the release of the demand for manufacturing steel.
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The demand for steel used in infrastructure has also been affected by the epidemic control and poor project funding, and the progress of the project is not satisfactory. In the short term, the domestic steel market will face the traction of steady growth and continued overweight, the weak reality of insufficient demand release, and the weakening of cost support. A situation of first rebounding and then falling back.
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