slotdepositshopeepay| Sinosteel Network Steel Market: Real estate sales stabilize Steel market spot and raw material prices stabilize and rise

News summary

Spot steel market generally rose, and market sentiment improvedslotdepositshopeepay;SMM data showed that blast furnace operating rates and capacity utilization increased slightly. The year-on-year decline in sales of real estate enterprises narrowed, and it is expected to stabilize with policy support. The prices of building materials and plates are bullish, and steel mills are willing to support prices. Steel and raw material prices are expected to rise steadily in the short term.

Newsletter text

[The market supply and demand pattern is gradually improving, and current prices in the steel market are about to face a new round of increase]

In the latest market observations, the spot steel market has a significant upward trend, and the black futures market has also shown strong momentum. At present, the gradual improvement of supply-demand relations and the improvement of market sentiment have brought positive signals to the steel market.

[SMM statistics: Blast furnace operating rate and capacity utilization rate increased slightly]

According to data provided by SMM, the blast furnace operating rate reached 93% on May 22slotdepositshopeepay.17%, an increase of 0.19% month-on-month, while the capacity utilization rate was 94.87%, an increase of 0.25% month-on-month. The average daily molten iron output of sample steel mills rose to 2.2688 million tons, a month-on-month increase of 5,600 tons.

[Real estate enterprise sales data: Sales of the top 100 real estate enterprises in April shrank year-on-year]

Recently, real estate companies have successively announced their sales results from January to April 2024. The year-on-year decline in sales of the top 100 real estate companies in April has decreased. With the accelerated implementation of favorable policies, it is expected that the sales of real estate enterprises will gradually stabilize.

[Building materials market: Prices will remain stable tomorrow, rising partially]

Quotes in the building materials market continue to increase today, although the shipment situation is not extremely optimistic. Based on the continuous improvement of housing market policies, building materials price forecasts show that building materials prices across the country will remain stable tomorrow and may rise in some areas.

[Plate market: Spot prices will be stable and rising tomorrow]

Today, spot plates generally rose by 10-50 yuan, double coke rose by more than 4% within the day, and iron ore rose by nearly 3%, providing strong support from the cost side. Driven by market demand and costs, it is expected that spot prices of plate materials will continue to hold steady and rise tomorrow.

[Strip market: Spot prices will remain stable tomorrow, rising partially]

Strip steel prices rose today, despite overall trading volume being modest. Due to the compression of production profit margins at steel mills, the strong willingness of manufacturers to hold prices, and macro positive results, it is expected that spot prices of strip steel will remain stable tomorrow and may rise in some places.

[Pipe market: Prices are rising tomorrow]

Pipe prices have increased steadily today, raw material prices and pipe factory quotations have both increased, and market transactions have shown a preference. As the market continues to play, pipe prices are expected to hold steady and rise tomorrow.

[Raw material market forecast: prices will stabilize and strengthen tomorrow]

The forecast for the raw material market tomorrow shows that billet prices will strengthen, scrap prices will increase slightly, double coke prices will remain mainly stable, and iron ore prices will remain stable and are expected to rise.

[Decision suggestions: Low-inventory traders get goods on demand to avoid large amounts of speculation]

Against the background of both macro and cost increases, traders are advised to adopt a strategy of shipping while covering goods. For low-inventory traders, it is recommended to get goods on demand and avoid speculative buying. From a technical perspective, the thread 2410 contract is expected to hit the 3850-3950 range in the next month.

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