Nearby futures Yin fell, domestic steel prices to remain weak, and this leaves the market pessimistic mentality hardly be minimized. And raw materials demand, after half a year effort, improvement is still limited, but the enthusiasm of steel production is diminished, this position, post steel city prospects.
Downstream in terms of new projects in the near future, apparently encountered a stumbling block. According to the show, since joining in July or August, the railway construction season started coming, but not many new construction projects in the near future. About leading expert told Xinhua in an interview, said the railway approved 64 new projects feasibility studies now only 17 of the report, there is a rail investment of 300 billion yuan, far from complete 800 billion of annual investment goal is still a big gap.
When that steel prices will be stabilized? Crucial really depends on the steel mill when cutbacks. However, according to the latest statistics from the China iron and steel Association data show that key enterprise output 1.8295 million tons of crude steel in mid-August, an increase of 9,600 tons, rose 0.53%. Data also shows that statistics key iron and steel companies in mid-August this year stock 15.251 million metric tons, compared with the previous growth 682,200 tons at the end of, rose 4.68%, output growth on the one hand, consumer spending is shrinking on the one hand, it appears that the domestic steel market oversupply situation can only become clear.
More than that, in terms of raw materials, the drop in raw materials prices to remain weak, which made steel prices have bottomed even worse, news shows, as of 27th, Welded Stainless steel pipe bellwether market Tangshan fell 10. Do not change the iron ore market is also weak. Platts index, yesterday Mr fell 0.75 dollars, powder index 62% fee is now $ 88 per ton. August to thermal coal, iron ore, rubber, and decreases in the early varieties are the emergence of the "bottom" phenomenon, later once the price of crude continued to fall, as the leading varieties of commodities, will no doubt affect commodities markets as a whole.
Taken together, the current steel industry in deep trouble, recent rise in steel prices not asking, just the desire to stop falling is difficult to achieve, merchants add wait-and-see attitude can only be pessimistic.
