After the steel price fell, the futures steel rose again. The key point that affects the rise and fall of steel prices is…

Yesterday, the market price of steel was mainly stable, with mixed ups and downs. The black-based futures fluctuated strongly, and the market sentiment was mainly wait-and-see. It is expected that the steel price will be mainly adjusted before the Fed raises interest rates.
In the first half of the year, the export value of construction machinery continued to grow, indicating that the construction machinery manufacturing industry is recovering well. As an important steel-using field, the good development of the construction machinery manufacturing industry will drive the increase in the demand for steel, which will benefit steel prices in the medium and long term.
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The Ministry of Industry and Information Technology held a press conference, indicating that the proportion of manufacturing will continue to be basically stable. Manufacturing is one of the three major steel-using fields besides real estate and infrastructure. Keeping the proportion of the manufacturing industry basically stable and promoting the high-quality development of the manufacturing industry means a stable release of the demand for steel used in the manufacturing industry. Under the background of poor real estate construction and sluggish industry, the stable development of the manufacturing industry and the steady release of steel demand in the manufacturing industry will help to enhance the confidence of the steel market and have a certain positive effect on steel prices.
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The current steel market is generally flat. From the perspective of supply, the reduction of blast furnace production continues to increase, but inventory digestion is still slow, and supply pressure still exists; from the perspective of demand, the current demand for steel is in a state of slow recovery, but due to rain, high temperature, and off-season consumption, it is difficult to make significant changes. . The supply is strong and the demand is weak, and the steel price is adjusted at a low level. At the same time, with the opening of the fifth round of coke lifting and lowering, the profits of long and short processes have improved, giving steel mills room to increase production, which may have a negative impact on steel prices. At the same time, considering that the Fed’s interest rate hike is about to land, it is expected that short-term steel prices may be weakly adjusted.
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