The rebound of the steel market is short-lived, and the short-term market is weak

Steel prices changed from strong to weak on Thursday, reflecting that the market rebound pressure is still not small. However, some spot markets have achieved a rise of 10-20 yuan, such as Beijing, Jinan, Shanghai, Guangzhou, etc., the opening quotations have risen according to the trend, and the thread, hot coil and strip have rebounded locally.
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Today’s feature is that the steel spot fluctuates little, and the ups and downs are mixed at the same time. The overall strength is stronger than the futures, and the raw material spot is stronger than the finished material. The performance of the steel market is not enough to support the market. After the first two dips and losses, the willingness of traders to receive goods is low, and most of them maintain just-needed purchases. In the past few days, there have been many negative factors in the market. From the perspective of the steel market, it has entered September. If the demand at the normal peak season level from September to October cannot be picked up, there may not be many opportunities left this year.
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In terms of spot, steel mills and local markets have more prominent price action. But the overall market, prices fell in the afternoon. In the case of the same increase in factory inventory and output on the fundamentals, the short-term rebound is also under pressure, and it is expected to remain weak in recent days.
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