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Steel spot prices are rising step by step, and the recovery of the steel market is consolidated

May 20, 2020

According to data monitoring, as the epidemic prevention and control situation continues to improve, economic activities are gradually returning to normal, the raw material end is steadily rising to support the price of finished materials, and the downstream industry is improving. The recovery of steel market demand and other factors are driving steel prices to rebound In May, steel prices rose steadily.


At present, the production and operation of China's downstream steel industry has basically resumed, but the recovery of export-oriented industries will take time. It is expected that the downstream steel market will rebound in the second half of this year, especially in the field of infrastructure.


The key projects of transportation construction were basically resumed. According to the Ministry of Transport, as of the end of April, the resumption rate of 625 key transportation construction projects in China exceeded 97%. There were 165 new highway and waterway projects with a total investment of 264.9 billion yuan. Construction projects in the direction of the 4th Five-Year Plan.


The construction industry continues to pick up. According to statistics, the overall sales scale of housing companies in April increased greatly, and the monthly sales volume of TOP100 housing companies reached 900.23 billion yuan, an increase of 17.2% month-on-month, and an increase of 0.6% year-on-year. Industry insiders predict that market sales in May will further improve.


Although the demand for steel in the external market plagued by the epidemic fell sharply, a series of policies favored steel consumption, and strived to expand domestic consumption to offset external influences. In the context of the continuous strengthening of the raw material end of the steel market and the rising spot prices, the steel market in the second quarter The foundation of recovery is consolidated.


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