INDUSTRY NEWS
In the first week of "Golden September", the steel market ushered in a "good start"
After the steel market officially entered the "Golden Nine", supported by strong expectations, the market generally showed a boom in supply and demand, trading activity was fair, and the steel price trend was generally strong. It ushered in a "good start" in the first week.This week is still boosted by the billet and futures markets, and the overall spot price performance has strengthened. The overall price of raw materials increased rapidly, and the overall operation remained high. The overall price of the tinplate market has increased this week, but the transaction performance is fair.
Judging from the market performance in the first week, the fineness of "Golden September" is relatively adequate. According to data from the China Iron and Steel Association, last week (August 31st to September 4th, the same below), the China Steel Price Index (CSPI) reached 107.13 points, a week-on-week increase of 1.39 points, or 1.32%.
Analyzed from the fundamentals, the main reasons that supported the steel market's "good start" in the first week of September are as follows:
First, the supply increased slightly, and the inventory turned from increase to decrease.
The second is the slow release of demand and the improvement of macro expectations.
The third is the strong cost support, and most steel mills raise prices.
The third is the strong cost support, and most steel mills raise prices.
Fifth, environmental protection production restriction measures have been introduced in many places.
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