Limiting production, replenishing warehouses, and continuous big moves before the festival, steel prices hit a new high in September

As of Tuesday, the market continued to maintain a steady upward trend. The performance of construction steel was relatively active, and most markets rose slightly by 20-30 yuan, followed by hot coil, and medium and heavy plate, pipe and cold-rolled series were relatively stable. Near the end of the month, the market continued to fluctuate and climb in the atmosphere of replenishment.
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Judging from the news, environmental protection production restrictions have once again been pushed to the forefront of the market, increasing market disturbance. Although the limited production period has a limited impact on the supply and demand of steel, it can play an unexpected role in market confidence, especially the market sentiment near the long holiday.
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At present, the main logic of the market’s rise is still the stock replenishment market before the holiday. In the past two days, regardless of the terminal or the steel trade, there has been a significant increase in the replenishment of the stockpile. Even in the southwest, east China and other places, there are cases where customers take the initiative to increase. There are more price hikes. In addition, due to the increase in carbon prices, the coke inventory has risen and landed, and the finished products are strong.
Due to the improvement in market sentiment, the trading atmosphere has gradually increased, and demand has also improved, but the sustainability of demand remains to be seen, and pre-holiday gains are still relatively limited. Before the holiday, there is still a certain risk of small fluctuations at the end of the month due to actions such as taking out insurance, reducing positions, and profiting from spot rallies.
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