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Steel prices in May, has tumbled more than 20%

Steel prices in May, has tumbled more than 20%
Issue Time:2016-05-19

Domestic steel prices sharply lower close to 500 yuan/ton。Along with the increasing supply and seasonal weak downstream demand, also difficult to improve in the short term trend is down. 

Crude steel production hit a record high, supply pressure drop gradually appear.

The steel prices continue to surge, caused by steel mills passion and production has reached a stage.

At the bottom of the social stock picks up, however, short-term resources is still tight.

As social inventory in recent weeks the strength is weak, steel trade, with the enthusiasm is low, the market in the short term will still be shown as resources are tight, but in the rainy season under pullback in demand, steel prices are still hard to find at focus.

Steel exports have been rare, late or continue to fall, to further increase the domestic pressure.

As you can imagine, the future China's steel exports will further increase the difficulty, domestic manufacturers need layout to cope with the new market in advance, otherwise the huge steel export sale in domestic market, the supply pressure of rising sharply..

Iron ore market prices are unlikely to continue to trend higher in the high iron ore supply pressure and steel procurement cautious, dropped ore price is expected to have a certain space, reduce the price of the timber support..

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