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Steel price trend in 2017

 

2017-03-17 10:08:24 

 

According to market expected this year, the iron and steel industry production capacity will exceed last year. The Minister of industry said on last weekend: reduce 50 million tons of production capacity. The target does not include land of steel, just aim to promote the steel market sentiment. Large terminal data shows that rebar futures 1705 contract quoted at USD3641 per ton till March 15th closing, week cumulative increase is over 6%.

 Production peak is approaching, steel demand side warming. Last week, rebar inventory of 35 major markets was $7 million 859 thousand tons, decrease about 496 thousand tons, a decline of up to 5.94%; wire inventory of 2 million 182 thousand tons, decrease of 147 thousand tons, a decline of 6.31%. 

 Insider said that the national steel stock marekt declined for third consecutive weeks, and a significant decline in the expansion, especially the screw steel stocks fell nearly 500 thousand tons within one week, which is the largest weekly decline since 2008. The current level of stock compared with the same period last year increased by 25.96%.Indicating that the current domestic demand for the release of the overall is high.The accelerated decline in inventory, which means the stock in old price are accelerate digestion, will help reduce the risk of future’s market prices.

 Industry analysts said that demand will undoubtedly further improve the domestic steel market supply under the condition of a futher reduction in the supply side and further promoting our policy of reducing excess capacity. Demestic steel stock market accelerated deline, which means that the early low price resources has been digested, and the cost of market resources is gradually rising. This year, steel production capacity in the production capacity of the impact will be significantly greater than last year. The domestic steel prices will form a significant boost.

 

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