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China's steel market supply and demand

Posted:2021-09-26 16:48:53

On the supply side: This Friday, the output of large varieties of steel was 9,174,200 tons, a week-on-week decrease of 609,100 tons. Among them, the production of rebar was 2,709,700 tons, a decrease of 361,800 tons on a week-on-month basis; the output of hot-rolled coils was 3.0873 million tons, a decrease of 21,800 tons on a week-on-month basis.

In terms of demand: the apparent consumption of large varieties of steel this Friday was 9,280,400 tons, a week-on-week decrease of 348,100 tons.

In terms of inventory: this week's total steel inventory was 19,208,600 tons, a week-on-week decrease of 646,200 tons, and a month-on-month decline for 7 consecutive weeks. Among them, steel mill stocks were 5,488,800 tons, a week-on-week decrease of 349,700 tons; social stocks were 13,720,600 tons, a week-on-week decrease of 296,500 tons.

Affected by the frequent news of power restrictions and production restrictions in many places, the steel futures market continues to rise after the holiday, especially the building materials market. At the same time, the downstream demand for stocking before the National Day also supports steel prices. However, a series of energy supply guarantees introduced by the state have been effective, and the market's fear of high coal prices has increased. And with the increasing pressure on the purchase cost of downstream terminals, it is also necessary to guard against the risk of callbacks caused by the excessively rapid rise of steel prices.