2019-08-28 Steel market forecast

 Steel market forecast 2019-08-28

   According to Mysteel monitoring, in the past two weeks, domestic short-process steel mills have been reducing production more, while long-process steel mills have been reducing production very limited. With the sharp drop in the previous price, the gross profit per ton of threaded steel in Tangshan Long Process Steel Works is about 100 yuan. It is expected that this week, it will be difficult for the steel mills to further expand and reduce production.

  Generally speaking, due to the negative macro news, demand weakened again this week, while steel mills continue to reduce production space is limited, supply and demand pressure has increased, resulting in a weak short-term steel price downward. However, with the high temperature weather coming to an end, steel demand is expected to pick up in September, when the fundamentals or stages of improvement, the steel market should not be excessively pessimistic.