Taking advantage of the victory and pursuit, steel prices are expected to reach a new level

Today, steel prices continued to rise slightly, and some markets increased more than yesterday. From the perspective of varieties, rebar has the highest growth rate among many steel types, and hot coils, medium plates, profiles, and pipes have also risen to varying degrees.
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The driving force for the continued rise of the steel market is still the rapid recovery of demand in the context of the expected recovery of the trading economy. In the process, the boundaries of recovery are widening. From a domestic point of view, second-hand housing transactions have picked up, consumption has recovered and policies have continued to advance, traffic has returned to peak conditions in various places, and the start of work in the downstream has further improved since late February, which also means that the recovery is improving. Internationally, the U.S. inflation data has slowed down, PMI, consumer confidence index and labor market data have all performed well, and the risk of a hard landing for the U.S. economy is also decreasing. This shows that the current domestic and international situation is positive and optimistic for the environment brought about by the steel market. Through the recovery of steel prices, profits have improved slightly, and black seems to be conducting a new round of pricing.
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From an industry point of view. In addition to the status of inventory and market shipments that need to be paid close attention to in the near future, through price adjustments, upstream and downstream profits also need to be paid attention to. At present, the profits of blast furnaces and electric furnaces have recovered to a certain extent. Some steel companies for blast furnace crude steel have turned losses, and electric furnaces have also shown profits. But it does not mean that the profit situation will always improve. The pressure brought by the price increase of iron ore has made steel mills feel pain.
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The current round of steel price rebound is mainly driven by demand expectations, and the increase is further enlarged. At present, it mainly depends on whether the spot can keep up with the futures and realize the smooth digestion of the increase. Generally speaking, the current market has the effect of optimistic expectations and sentiment amplification, and some varieties have also experienced shipment restrictions as they continue to rise, so it is still necessary to further observe the pace of demand recovery. Therefore, the current market has not yet reached a state where the higher the price, the more you buy, and the market still has a certain degree of caution. The spot rise requires further observation of downstream receiving capacity.