Steel Price in June Has Been Continuing to Decline

Since June, the price of China's steel market has shown a fluctuating downward trend, and the off-season effect of market demand is emerging. 

The issuance of special bonds has accelerated, but the demand side has not improved significantly. The off-season inventory has begun to accumulate gradually. In addition, the high temperature and rainy weather across the country have affected terminal construction, so the market price has gradually fallen. 

In the short term, the supply side remains high overall; the demand side is seasonally weak; the market mostly maintains low inventory operations.

As far as the steel market is concerned, the overall market is still affected by multiple factors. It is expected that under the influence of the external interest rate cut wave, the domestic macroeconomic policy expectations are still there, the steel mill supply is stable and strong, the off-season effect continues to deepen, and the cost support is strong. The domestic steel market may show a market that is suppressed first and then rises in July.

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