Steel demand rebounds, steel prices fall, and adjustment space is relatively limited

On August 19, the black futures market finally broke the stalemate. The representative variety of rebar saw a rise and fall in the night trading. The Japanese market did not change much. The late dive closed down and broke through the 3800 yuan integer mark that was repeatedly supported in the previous period. Iron ore and coke have an obvious long-short power game. The overall performance is relatively strong and still closed up. Although there were struggles in the hot coil, but no chance was given in the end, the dive closed down.

The steel spot market has not been greatly affected by futures for the time being. Steel prices are mainly operating within a narrow range. Some regions and varieties have risen and fallen. The plate is still better than the long product. The transaction situation is not as good as yesterday. Some merchants have darkly declined to promote the transaction. The actual results were minimal.

Considering that iron ore, coke rises, and the cost of scrap steel are still supporting factors, the room for steel price adjustment is relatively limited when demand has not been completely falsified.