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The press release published on the website of China Steel Association said that due to the rapid growth of crude steel output and the decline of exports, it is expected that the contradiction between supply and demand in the later stage will become more prominent, and steel prices will continue to fluctuate.
"It is expected that China's steel exports will be reduced in the second half of the year. Under the situation of oversupply in general, the supply and demand situation of long products is relatively better, and the situation of oversupply of sheet and strip is more severe." .
However, China Steel Association believes that overall, China's economic growth will continue to develop steadily and rapidly in the second half of the year. The demand for steel in the domestic market is still relatively strong, and the destocking of steel continues.
At the end of June, the total social inventories of five steel products in 26 major steel markets nationwide totaled 14.32 million tons, down 290,000 tons, a decrease of 2.03%. The fourth consecutive month, the chain fell, but the decrease was 3.17 percentage points lower than the previous month.
Among them, rebar and wire stocks decreased by 2.13% and 12.69% respectively, a decrease of 5.71 percentage points and 4.60 percentage points respectively from the previous month.
“Steel inventory changes show a weakening of demand and an increase in market wait-and-see mood,†said China Steel Association.
China Steel Association also expects that on June 1, the country has raised the prices of industrial electricity in 15 provinces (cities), and the reform of the ladder water and electricity prices, the increase of railway freight rates and the resource tax reform will also be introduced. The difficulty of the effect is further increased, and as the policy continues to tighten, the pressure on steel companies will further increase.
In addition, the press release mentioned that in the later period of China's steel market, it is still necessary to pay attention to the contradiction between supply and demand of steel products, and the pressure on resources and energy prices is still relatively high. However, the country's efforts to eliminate backward production capacity will bring opportunities to the steel market, because the elimination of backward production capacity will help alleviate the contradiction between supply and demand.
In the first half of the year, China's steel demand was strong, and steel prices generally showed a volatility upward trend. In June, affected by the slowdown in the growth rate of the steel industry and floods in some parts of the South, the demand for steel products has weakened. In addition, steel production continues to maintain a high level, exports have declined, and the contradiction between supply and demand in the domestic market has intensified. Steel prices fell slightly.
Crude steel production has risen steadily this year. However, the China Iron and Steel Association previously predicted that the national crude steel output in the first half of July was 1.955 million tons, down 3.1% from the previous month. In the same period, the daily output of crude steel of China Steel Association was 1.627 million tons, a decrease of 3.8% from the previous month.
China Steel Association expects the contradiction between supply and demand in the steel industry in the second half of the year
China Iron and Steel Association has proposed that the contradiction between supply and demand of steel in the second half of the year will become a sharp problem. China Steel Association said on Monday that China's crude steel output growth in the second half of the year is expected to rise month by month, and steel exports may be reduced, which will further aggravate the already serious contradiction between supply and demand.