Article source: China Steel Price Network

The domestic spot steel market continued to pick up, steel prices rose slightly, and market demand began to release. The iron ore market is basically stable, and the import price has risen slightly.

According to the latest market report provided by domestic steel information agencies, the domestic spot steel price index closed at 144.22 points in the most recent week, up 0.6% in the week. Among them, the construction steel market is dominated by shocks, and the average price of mainstream rebar varieties has risen by 24 yuan per ton a week. The plate market was stable and the market price of hot-rolled coils rose slightly. The average price of mainstream specifications rose by 15 yuan per ton per week. The price of plate was slightly increased. The average price of mainstream specifications was 23 yuan per ton per week.

Overall, the inventory level of the steel market is relatively high, and the output still maintains a considerable scale, but the release of demand is slightly better than expected, and the steel price is relatively strong. At the end of the week, due to the fall in the price of steel futures, the spot steel market price was slightly weak, but the market demand continued to maintain a good state, and the market mentality was generally stable.

The iron ore market has risen steadily. According to the latest report, in the domestic mining market, the market is stable. Due to the emergency response to heavy-duty weather in some areas, the limited production of steel mills has increased, and the domestic demand for domestic mines will be restrained in the short term. The price of imported ore market fluctuated and rose. As of the 7th, the price of imported iron ore at 62% grade was 87.05 US dollars per ton, up 2.25 US dollars on a week-on-week basis. Iron ore inventories in major ports nationwide have risen for four consecutive weeks, and some steel mills are relatively cautious in their procurement.

Relevant institutions believe that in the short term, the domestic steel market will be in a trend of strong volatility, and the fundamentals of supply and demand are relatively good, but it does not rule out the possibility of certain recurrence.