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The key to the steel price trend is inventory

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The key to the steel price trend is inventory

Categories:Company news
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Time of issue:2020-07-10 10:17
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(Summary description)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.

The key to the steel price trend is inventory

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The key to the steel price trend is inventory

(Summary description)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.

Categories:Company news
Author:
Origin:
Time of issue:2020-07-10 10:17
Views:0

Information

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.

In the steel prices continue to rise at the same time,the national steel output also continues to set new highs.Statistics show that from January to July this year,the country's crude steel output of 53.85 million,a year-on-year increase of 6.3%;China's steel output reached 625.87 million tons,up 6.6%.In July,China's crude steel output reached 81.24 million tons,up 7.2%year on year.Steel output reached 95.69 million tons,up 8.0%.Based on this calculation,it is estimated that the national crude steel output in 2018 will reach 900 million tons,and the steel output(including double counting)will exceed 1 billion tons,approaching 1.1 billion tons.

Affected by these two aspects,The Chinese steel market"fear of heights"arises spontaneously.Some views from time to time caution market participants against the risk of a retreat.

Lange Steel's Chen Kexin thinks:

Comprehensive analysis of all aspects of the current situation,the steel price trend this year,the key factor or depends on its inventory status?To pay close attention to the next stage of the rise and fall of the national steel inventory,including social steel inventory and steel enterprise inventory two aspects.This is because:steel price trends must be subject to its sales.Only when there is demand can there be sales,only when there is profit,only when there is no overstock of goods,only when prices are strong and rising.If goods do not sell well,there will be a large inventory backlog.And for the need of fierce competition,is bound to pressure steel production and circulation enterprises to cut prices for sale.Otherwise,the accumulation of goods inventory,will weigh on a large number of funds,until the enterprise will be dragged down.

Market participants need not worry too much about the country's record steel production.As long as there is no abnormal increase in steel inventory during the same period,it means that consumer demand is stronger during the same period,and the increased steel production is absorbed without breaking the balance between supply and demand,so it will not cause drastic market fluctuations.

It can be seen that the inventory situation comprehensively reflects the multiple levels of market relations,and is indeed an important leading indicator to observe and judge the future trend of steel prices,and there is a clear logical relationship between them.

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Previous: Steel volume increased environmental restrictions on production

Next: 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

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