Steel prices will fluctuate within a narrow range in early July

On July 6th, the domestic steel market prices fluctuated strongly, and Tangshan Pu billet delivered a steady price of 3330 yuan/ton. The recent surge in the domestic stock market, coupled with news from Tangshan's environmental protection restrictions, the sentiment preference of the black futures market, the steel spot market has also followed the strong trend, and the overall transaction is acceptable. The main varieties of rebar futures oscillated strongly, closing price 3618 rose 0.42%.

In the early trading period, the snail was strong and volatile, and domestic steel prices rose and fell in the morning. Judging from the transaction, due to the large-scale rainfall in the Yangtze River Basin, which significantly inhibited the construction of the downstream construction site, most businesses reported that the transaction has slowed down today. In terms of resources, the steel market is currently accumulating in the off-season, and steel mills and market inventory pressures have increased.

According to the latest data from the China Steel Association, the average daily output of crude steel from key steel companies in June was 2,129,800 tons, an increase of 2.74% month-on-month and 4.03% year-on-year, setting a record high. According to research, the weekly crude steel output of 71 home appliance arc furnace steel mills nationwide fell by 4.5% from the previous week, mainly due to poor sales during the high temperature and rainy season, and corporate profits continued to decline. Last week, the utilization rate of blast furnace ironmaking capacity of 247 steel mills was 93.35%, which was basically the same as that of the previous week.