Increase in real estate infrastructure keeps steel prices stable

According to data released by the National Bureau of Statistics today, the national economy gradually recovered in the first half of the year. According to preliminary calculations, the gross domestic product in the first half of the year was 4,566.1 billion yuan, a year-on-year decrease of 1.6% at comparable prices. In terms of quarters, the first quarter fell 6.8% year-on-year, and the second quarter increased 3.2%.

Under the influence of seasonal factors, real estate investment restoration slowed down, but still maintained a high growth rate. From January to June, the national real estate development investment was 6,278 billion yuan, a year-on-year increase of 1.9%. From January to May, it was down 0.3%. The monthly growth rate was 8.5%, which was a slight rebound from May. The upward momentum has weakened; infrastructure investment A year-on-year decrease of 2.7%, the rate of decline narrowed 3.6 percentage points from January to May.

Manufacturing production remained stable, and the added value of the manufacturing industry in June increased by 5.1% year-on-year, down 0.1 percentage point from the previous month. Manufacturing investment remained weak. From January to June, manufacturing investment fell by 11.7%, which was 3.1 percentage points lower than that from January to May. Among them, high-tech manufacturing investment increased by 5.8%.

In the manufacturing industry, the production of investment demand-driven industries may decline, while the production and investment of consumer demand-driven industries are expected to rebound steadily, thereby driving the corresponding demand for steel. Therefore, overall steel consumption in the second half of the year is still relatively optimistic.