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Demand is expected to contract, and steel prices or shocks will run weakly next week

Dec 30,2021  Steel Knowledge.


Hot-rolled coil:

This week the domestic hot rolled coil market prices rose slightly in 24 major markets 3.0mm hot rolled coil prices for 4931 yuan, 2 yuan higher than last week; The average price of 4.75mm hot rolled coil was 4860 yuan, up 1 yuan from last week

This week, the market price still showed a slight increase, the market transaction remained at a low level in the short term, and the overall speculative sentiment of the market was not obvious. At present, the lower end of the replenishment cycle is approaching forward, the hoarding is mainly based on varieties of steel, and the willingness of general material hoarding is not strong. For next week, the game between steel mills and the market still exists, and this situation is expected to be clearly realized in January. Therefore, for now, although the order pressure of manufacturers in January still exists, in the case of the current market circulation resources, there is still a strong support for spot prices, until the market inventory shows a cumulative, there will be a clear downward momentum.

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On the whole, this week's domestic steel market prices showed a state of shock adjustment. From the perspective of time, the operating rate of terminal construction sites will gradually decrease, and seasonal weakening of demand will occur. The impact of the epidemic in some regions still needs time to be reduced in the short term, and the market's expectations for follow-up demand are weak. As the end of the year approaches, some non-restricted production areas are preparing to resume production, and the Ministry of Ecology and Environment announced that it is not true to shut down enterprises in a large area during the Winter Olympics, so it is expected that the supply in Hebei may increase compared with this week. In addition, next week, Shandong, Jiangsu, Guizhou or some enterprises resume production, production rebounded slightly, but the incremental space is relatively limited. Comprehensively, it is expected that the domestic steel market price or shock will run weakly next week.

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