In the first full trading week after the holiday, domestic spot steel prices continued to rise, and the gains increased, but the trading volume has not yet fully opened. Iron ore market is in a slight upward channel, the stock is still at a high level.
According to the latest market report provided by the steel and information agencies, the domestic spot steel price index closed at 154.42 points in the latest week, up 2.75% over the week. After steel prices rose after the holiday, steel prices continued to rise this week and the gains increased. Since the downstream construction is not yet adequate, the actual transaction in the steel market has not yet fully kept pace. In general, under the influence of factors such as the billet and market conditions, steel companies are more optimistic about the market outlook. Next, the actual downstream demand release will determine the actual trend of spot steel prices.
According to analysis, in the construction steel market, the price increase is more obvious. The average price of rebar grades in major markets across the country is 4,296 yuan per ton, up 128 yuan per week. At present, many businesses in the steel market have good expectations for the start of the Lantern Festival after the Lantern Festival, so the spot steel prices have risen. However, the market transactions are more general, the main reason is that the end-user's demand has not yet fully started, the current turnover is mostly between large and small traders.
The iron ore market has steadily risen. According to the latest report, in the domestic ore market, the price of Hebei Fe fine powder rose slightly in February, and the ton price rose by RMB 10 to 15 yuan. Before the Spring Festival, the steel factory's make-up activities led to the upward movement of the ore price. After the Spring Festival, the power of the steel mills to make up the additional storage was weakened, and the ore price remained basically stable. The price of imported minerals has been rising. As of February 28, 62% of grade imported ore prices have closed at US$78.9 per ton, up by US$5.8 per month. At present, iron ore stocks in the port are still at high levels.
The analysis of related institutions believes that domestic steel prices have risen in the absence of demand in late February, adding some uncertainty to the steel price in March. In particular, social stocks are at a high level. Once the demand is released less than expected, the cashing out of inventory resources will exert considerable pressure on the trend of steel prices, and steel prices will oscillate within a certain range.