Steel prices after a short - term rational callback steel market gold is still available
After entering September,the steel price started with weakness and the rise was weak,seeing that the"Gold nine"was about to fail,but I think the September steel price can still be expected.Below and listen to the author of a few positive factors.
Steel volume increased environmental restrictions on production
This week,steel mill inventory a small reduction,increased turnover,and social inventory has accumulated.On Friday,the social inventory of large steel varieties accumulated,increased by 35,900 tons to 9,982,300 tons month on week,among which the inventory of rebar decreased by 56,400 tons to 4,3222,200 tons.The main inventory varieties of wire and plate increased by 591 tons,36,300 tons to 1,37.87 tons and 999,900 tons respectively.
The key to the steel price trend is inventory
Since the second quarter of this year,the country's steel prices rise in shock.Lange Steel network market monitoring data shows that as of August 14,2018,Lange steel price composite index is 168.6 points,up 12.4 percent from March 30 this year.The long material price index is 185.1 points,up 19.3%;Plate price index is 153.9 points,up 8.6%.On August 13 this year,the rebar main contract closing ton price was 4,327 yuan,up 27.6%from March 30.
Baosteel said the devaluation of the yuan has increased financial costs and reduced exports to the United States in the second half of the year
Baosteel Corp(600019.SS),China's largest steel producer,said on Tuesday that the depreciation of the exchange rate has caused its financial expenses to rise and the company has increased the lock-in ratio of its foreign currency exposure to current trade frictions with the United States and the devaluation of the renminbi.Company exports are expected to be generally steady in the second half of the year,although exports to the United States will be lower.
Posco will invest 45 trillion won over the next five years to strengthen its competitiveness
POSCO,the South Korean steelmaker,said on Monday it planned to more than double investment spending to Won45tn over the next five years to strengthen its competitiveness.
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