Iron ore, coking coal and coke soared to drive steel to pick up!

Today, the spot spot in the steel market is mainly stable, and futures steel prices rose slightly. The overall trend is that the raw materials are strong and the finished products are weak, and the rise of raw materials drives the passive follow-up of the steel market.
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From a fundamental point of view, the market is still full of two contradictions. One is that the profits of iron ore and steel mills continue to be compressed, and the other is that the reduction in production has not seen any effect, and the contradiction between supply and demand is still large. Steel mills have now reduced their inventories of coke and iron ore to new lows, maintaining a low-stock strategy for raw materials for a long time. This just reflects that the supply and demand structure of the industrial chain has undergone major changes. Produce and purchase on demand. In all aspects of capital, inventory, production and sales, efficient operation has been formed.
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At the same time, coking plants and steel mills have low profits, or even losses, and are more sensitive to prices. They have reached a stage where cost and profit must be competed for. Generally speaking, there are many positive and negative factors intertwined in the steel market, and there is no smooth market.
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From the current point of view, under the influence of factors such as policy efforts and strong raw materials, the trend of the steel market is quite passive. The falling market is not smooth, but in the face of fragile fundamentals, there is no upward momentum. The production limit in the off-season is not expected to be enough, and there is pressure to control the level. The demand performance is weak, and there is no confidence to speculate on the demand in the past period. In general, under the multi-dimensional influence of policies, raw materials and contradictions between supply and demand, the market trend is still not smooth. If stocks and commodities continue to rise, it is not ruled out that there will be a rebound in demand for steel products, but the range is still limited.