the steel market has continued to strengthen, prices have remained high

Recently, the steel market has continued to strengthen, prices have remained high, and various data have continued to hit new highs, giving people a feeling of hot market. Whether the steel market is hot or not, steel traders seem to have the most say. Their recent sharp decline in trading volume seems to be sending a bad signal. Behind the "off-season" market, some risks deserve vigilance.

The steel market is strong, and steel prices have been on the rise. As of July 21, the Lange Steel Network Steel Price Index was 146.1, still at a relatively high level, only 0.3 behind the highest point this year, and only 0.1 behind last week's high. Last week, the prices of iron ore and steel billets all hit new highs for the year, driving the price of steel to rise again and again. Among them, the prices of hot-rolled coil, medium and heavy plates, and hot-rolled strip all hit new highs during the year, which shows how hot the market is.

Steel prices have risen, but individual building materials have differentiated. Among them, the price of grade 3 rebar is relatively stable. According to data from Lange Steel Network, as of July 21, the average price of Grade 3 rebar (25mm) in key cities across the country was 3,738 yuan/ton, which was basically the same as the previous month. The price of hot rolled coil was 3883 yuan/ton over the same period, an increase of about 100 yuan per ton compared with the previous month. The steel market basically showed a slight increase in long products, while the market for plates and pipes rose significantly. It can also be seen that the construction industry is still in the off-season due to the rainy and high-temperature climate in the north, but the off-season effect of the manufacturing industry is not obvious.

As steel output has increased for four consecutive months, and the current blast furnace operating rate remains high, the output of building materials is still at a high level, which has put a lot of pressure on inventory. Superimposed on the off-season impact, the social inventory of building materials has continued to increase, and the accumulation rate has accelerated.

Lange Steel Network data shows that as of July 17, the social inventory of building materials was 9.054 million tons, an increase of 5.9% from the previous month, and an increase for 4 consecutive weeks. Among them, on July 10, there was only an increase of 17,000 tons from last week, but an increase of 216,000 tons in the last week. The increase rate is very obvious.

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