Supply and demand game costs, steel market pressure rises

The domestic steel raw material market fluctuated and consolidated, the price of iron ore fluctuated slightly, the price of coke remained stable, the price of scrap steel remained stable and strengthened, and the price of billet rose by 30 yuan.
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At present, under the background of increasing downward pressure on the global economy, a sharp tightening of the financial environment, and severe fluctuations in the global foreign exchange market, domestic policies will pay more attention to taking into account the internal and external balance and emphasize precise efforts.
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For the domestic steel market, differentiated housing credit policies will help stabilize the market’s expectations for the real estate industry, while the steady acceleration of construction and construction of infrastructure projects will help to release “steel demand” at this stage, while equipment upgrades The long-term stable release of steel used for manufacturing is boosted by refinancing and refinancing.
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From the perspective of the supply side, due to the relatively firm cost and the volatile rise in steel prices, the profits of steel mills have also improved, and the enthusiasm of steel mills to resume production has also strengthened again. From the demand side, since the work of stabilizing the economy and the broader market will accelerate in the fourth quarter, and there has been a resurgence of project starts in various places recently, the release of infrastructure steel demand will become the highlight of the fourth quarter, so the end market demand in peak season is also gradually picking up . From the perspective of cost, although the process of resumption of production by steel mills has been limited, the enthusiasm for resumption of production has increased again, which has also driven the relatively firm prices of raw materials and fuels, making short-term cost support still strong. In the short term, the domestic steel market will face a rebound in short-term supply pressure, stocking and terminal demand are expected to pick up, and cost support is strong.