According to the statistics of Mysteel and Xinhua Finance and economics, this week (December 24-december 30), the social inventory of major steel in China was 8.7483 million tons, a decrease of 36800 tons compared with last week and 1.214 million tons compared with the same period last month; Rebar inventory was 3.3942 million tons, down 25500 tons from last week.
The total inventory of large varieties on Friday was 12.9573 million tons, a decrease of 6600 tons compared with last week. In terms of supply, the supply of large steel varieties picked up month on month on Friday, with both building materials and plates increasing, and the incremental area is mainly concentrated in East China. It is expected that the supply will continue to pick up in the later stage. In terms of demand, the consumption of large steel quality decreased month on month on Friday. At present, it is the traditional off-season of the steel industry, and the demand is expected to remain under pressure in the short term. In terms of inventory, the decline in inventory this week narrowed significantly. Considering that the demand may continue to shrink after new year’s day, it is expected that the pace of inventory accumulation will gradually accelerate.
The spot price of various varieties of steel in this period fluctuated weakly, and the market sentiment was general. At present, the end of the year is approaching, and the terminal demand is seasonally weak. At the same time, the downstream industry believes that the current steel price is high and the willingness to store in winter is not strong. It is expected that the steel price will maintain a weak shock pattern in the short term.
(Note: in this paper, the total social inventory of steel = 35 urban thread inventory + 35 urban wire inventory + 33 urban hot rolling inventory + 23 urban cold rolling inventory + 31 urban medium and heavy plate inventory)
Figure inventory change of main steel products and regions in China
Data source: my steel net
(Xinhua Finance)
