The domestic steel market fluctuated and the price trend of 304 stainless steel wire appeared “polarization”; among them, the prices of construction steel such as wire snails rebounded slightly, and the prices of hot-rolled plates continued to rebound. The news from the market indicates the terminal transactions. Poor, the business mentality began to weaken, due to the tight funding situation at the end of this month, the situation of steel traders to cut prices is also ahead of schedule. At the same time, the steel and electronic plates are also continuing to adjust, and the imported minerals, steel billets and other raw materials are in a narrow range. Overall, the steel market transactions continued to fall this week, and merchants entered the current situation in advance. In the last week of August, the demand for funds from the end of the month was greatly increased, and the situation of actively lowering the price of shipments will be even worse. Therefore, we believe that the overall price of steel will continue to adjust.
The overall price of steel has returned to the downtrend, which is an adjustment before the market enters the “Golden Nine” peak season. Coupled with the impact of the southern rainstorm and the increase in capital pressure at the end of the month, we believe that domestic steel prices may accelerate this week. The process of falling back, but the plate market will be significantly better than the long products, the short-term price of 304 stainless steel wire will continue to polarize; the specific situation is to pay attention to the following changes. It shows that the production enthusiasm of mainstream steel mills is still strong. Recently, there are no specific implementation measures for environmental protection and elimination of backward production capacity. In addition, the steel mills will enter the concentrated period of rebuilding inventories, and the internal inventory of steel mills will continue to fall. It also indicates that the spot market is correspondingly The replenishment stock will continue to increase in the later market. Last week, the raw material market rallied, and the price of imported minerals broke through the relatively high level of 140 US dollars/ton. The increase was far greater than the rebound of spot steel prices, which made steel mills' profits again threatened. Steel mills turned cautious on raw materials procurement. There is a phenomenon of price reduction. The billet market also began to fall back after the downstream demand weakened. Although the enthusiasm of the steel mills is relatively high, the stocks of raw materials in the early stage are well prepared. In the near future, the demand for raw materials such as imported ore is not high, and the price of 304 stainless steel wire continues to be weak and volatile.