Steel prices are expected to continue to rebound slightly before the National Day

Today, the steel market has turned from weak to strong, and the market sentiment and transactions have improved significantly. The main reasons for market changes are:
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The first is that after the Fed raised interest rates, it did not exceed expectations, so that the tension in commodities was eased and the market became clear. The second is the conjecture of the expansion of the world war against Russia and Ukraine, the overall strengthening of energy prices, especially the rebound of crude oil, and the rebound of ferrous metals. The third is the expected resurgence of production cuts. The operating rate of blast furnaces and steel rolling production lines is still very high, but due to the increasing losses, the effect of production reductions by steel mills has already appeared this week, and there are signs of a decline in output. The overall supply is controllable, and the contradiction between supply and demand has not been amplified and intensified. Fourth, raw materials continued to strengthen. However, the market cannot be blindly optimistic. At present, the market is only a concentrated release that has been suppressed by the negative for a long time.
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Judging from the trend of the disk, the black series generally rebounded, and iron ore rose the most, with an increase of over 3%; from the spot point of view, the market sentiment has improved, and it is not ruled out that the price increase will stimulate some demand to be released in advance before the 10.1 festival, thus maintaining a slight rebound before the festival. Rhythm. Spot prices are expected to rise slightly tomorrow mainly.
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