Steel mills have strong willingness to push prices and steel spot market prices have strong support

In the past week week (5.04-5.08), the domestic steel market as a whole is in the rising range, and the current prices have risen synchronously. The demand for stocking in the last two days before the festival was taken over, and the demand for restocking after the festival continued to be released. Shipments in the southern market were once hot and output increased, but the pattern of factory warehouse and social warehouse destocking continued. However, as prices rose, there were signs of slowing transactions near the weekend, especially at high prices.

As of May 9, 2020, the comprehensive steel price index reached 137.3 points, up 1.89% from last weekend and down 12.13% from last year; the long product price index reached 149.1 points, up 1.84% from last weekend and down 12.63% from the same period last year ; The plate price index reached 125.5 points, up 2.36% from last weekend and down 12.18% from the same period last year.

At present, the epidemic situation in foreign countries is still continuing. Although the domestic epidemic situation is under control as a whole, the shipment of steel is more restricted, which has an impact on the domestic steel market. The recovery of terminal demand is more significant, but it is still far from the same period last year. It still needs a certain transition period. The policy at the fund level tends to be loose. The futures end continues to rise and enters the shock zone. The billet price is locked and the cost of steel enterprises is supported.