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Environmental Protection And Limited Production Pressure! After The Steel Price Fell Sharply, It Rebounded Earlier Than Expected?
- Sep 12, 2018 -

During the past Saturday and Sunday, the ex-factory price of ordinary carbon billet in Hebei Tangshan area increased by 70 yuan/ton (including 50 yuan on the 8th and 20 yuan on the 9th), and reported 4,100 yuan/ton including tax, last week. The price of 110 yuan was up; this morning, the price of Tangshan Pu carbon billet was temporarily stable. At the same time, some steel mills in Northeast China, North China, Central China and East China pushed up the ex-factory price. The domestic steel prices in the operating market continued to rise, with a range of about 50 yuan.

Last week, the average value of the steel world weighbridge index was 101.2 points, reflecting the hot state of the park, and the demand for downstream steel used in September started well. After the opening of this morning, steel futures quickly rose, the thread 1901 main contract soared to a high of 4299 yuan after the shock, hot rolled futures followed, but the raw material futures gains narrowed, as of press time, only the thread rose more than 1%.

Steel World Network Daily Comments:

Last Wednesday, Tangshan City issued a document announcing the implementation of the September production restriction policy, limiting production and fermenting again. The Tangshan billet market rose by 120 yuan to 4,100 yuan/ton during the weekend, and the market sentiment was high.

In late August, the spot price of steel products all showed a high retreat. With the release of high-price risks, the spot price of steel products last week stopped falling, and the market fundamentals re-turned with the help of limited production news and seasonal demand recovery. Well, the editor maintains the view of the weekend, and it is expected that the steel price will remain high and the operation will be dominated.

Message surface

1. Domestic steel prices have risen slightly, and short-term steel market operations can maintain high fluctuations.

The environmental protection and production limit is still maintained. The domestic steel market expects the release of steel output to be relatively rational. The domestic spot steel price has risen slightly after a narrow consolidation. The iron ore market was generally stable and the import price of minerals rebounded. According to the latest report of “Xiben Shinkansen”, in the domestic mining market, the price of iron concentrate in most parts of the country remained stable, and the prices in some regions showed a small increase. Imports fell to the mining price and stopped rising. Since August, port inventories have continued to decline, which is also a reason for the recent decline in imported mineral prices.

2. Steel export: China's steel exports in August reached 5.875 million tons

According to the General Administration of Customs: China's steel exports in January-August fell 13.1% year-on-year to 47.18 million tons. China's steel exports in August were 5.875 million tons, and in July it was 5.89 million tons. China's imports of iron ore and concentrates in August were 89.35 million tons, and in July it was 89.96 million tons. From January to August, China imported 710 million tons of iron ore and concentrates. China's August coke and semi-coke exports were 788,000 tons, and in July it was 820,000 tons. China imported 28.68 million tons of coal and lignite in August and 29.01 million tons in July.