Stabilizing the economic policy with renewed strength, the supply and demand environment of the steel market continues to improve

Near the end of the month, the macro and micro environment of the steel market has improved, and the market has rebounded slightly from these two aspects in an orderly manner. However, the core contradiction that the market is mainly concerned about is still concentrated on the risk of overseas recession and the expectation of the domestic economy after the gradual implementation of the domestic market stabilization policy. The closer to the long holiday, the more cautious the market, and the more stable the spot price performance.
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At the micro level, things improved at the end of September. On the one hand, the output and inventory consumption of cold-rolled and hot-rolled steel coils have maintained a decline, especially this week’s replenishment action, which has effectively realized the transfer of inventory resources and eased the pressure on the inventory in the factory. Since August, the supply-demand contradiction caused by the release of output has alleviated. However, due to the long holiday, all parties in the market are cautious, and the spot market before the holiday is mainly stable, and there will be no major changes.
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From the disk, black shows high volatility price changes. Iron ore was weak first and then strong, coking coal and coke became weaker, and rebar and steel coil oscillated sideways.
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In terms of spot, some steel mills have begun to implement the increase of 100 yuan for coke, and the enthusiasm for stocking of finished materials has diminished, and the market has stabilized. Under the condition of strong cost and improved supply and demand, steel price stability is strong. Considering the holiday factor, it is unlikely to have a big change, and the return to stability is the main thing.