Shrinking Downstream Demand Traders Expect Steel Prices To Adjust Off
Yesterday, more than 30 degree temperatures, in Hangzhou
, Zhejiang Shaoxing Road, Golden steel market insiders rare, thinly traded.Here Metal Material Co., Ltd. of Hangzhou, Hang Lung Fu Feng said that since the end of 6 years, steel trading volume continued to decline on all major varieties of steel prices generally fall, "We do have nothing to do, waiting to see the Olympics it." Circulation steel trade with the Department developed a new Run Zhejiang Economic and Trade Company, faced a similar situation, the Ministry of Chenchen Yan said the company is very little volume, prices are low. According to Mysteel website statistics, has been entered in July, steel prices trend of overall adjustment.
As of 24 major markets, the average price fell 70 per 20mm rebar / ton; 6.5mm plain carbon high-line average fell 110 yuan / ton, 4.75mm hot rolled slightly lower average price of 60 yuan / ton to 5,920 yuan / tons, of which Shanghai central market such as thermal paper prices fell 200 yuan / ton. In addition, other varieties of steel plate prices have come down in terms of relatively more moderate, but also showed a greater decline in the trend.
Overall, the recent trend of major varieties of steel prices showed a declining trend, there are varieties of fresh upstream. Shrinking downstream demand For the steel into a comprehensive adjustment of many years engaged in steel trade Fu Feng believes that the traditional consumption of off-season is certainly one reason, but the most fundamental reason is because the demand, "the off-season last year, our turnover than Now a lot better this year, the worst. " Fu Feng said that as the domestic monetary tightening, consumption weak, foreign orders caused by the subprime mortgage crisis and reduction of multiple factors, a great number of steel companies have been compressed or even stop the demand, some of the company's existing customers, including Jiangsu and Zhejiang Guangdong, the number of private enterprises, not available to order as many have been shutdown. Fu Feng that the price adjustment is only the beginning, if the demand can not be recovered, lower steel prices, is also not solve the problem. Industry told reporters that the demand this year will make the fundamental changes in steel prices continued for a long time to adjust, "such as poor housing demand, resulting in rebar and other basic building materials, light transaction, bringing this year's air-conditioning, refrigerators and other appliances market contraction, thus resulting in reduced steel appliances. " Mysteel a freelance researcher, said many traders to reflect the current difficulties in shipping, in fact, is the steel market slowdown has been concentrated expression.
The reason is the first large internal and external economic environment changes, the global economy brewing adjustment, inflation is relatively higher in developing countries. Second U.S. dollar exchange rate fluctuations, international crude oil prices fell sharply, the steel city is becoming the most unstable factor. Serious differences between the market outlook As for the adjustment of the depth and time, the current in the industry are not the same. Fu Feng believes that the September after the Olympics, to test the steel market is an important short-term or medium-term adjustment of the node, the traditional peak season of steel consumption, if not picked up the steel prices will continue downward trend and the transaction, otherwise there is recovery in steel prices space. Industry that the current high steel prices, though still in consolidation, but "has been fully shown weakness," now the price is already at the top, at least for this year will be no major rebound, the market will face a building roof or bottom of the process, "non-ferrous metals are now beginning to adjust to different degrees, whereas in the steel have entered a period of adjustment, if the dollar strengthened after the potential energy, the commodity bull market should be through an adjustment, steel prices fell along is inevitable . " Mysteel special researcher said that he expected the Olympic Games, the steel market is likely to usher in a new turn for the better. So far, China's economic fundamentals have not changed, the rapid economic development is still the main tone.
In addition, the downward trend in U.S. dollars will not change in the second half, on the international commodity prices are still quite support. Finally, by the impact of the current season, the situation in the iron and steel production slowed, the late availability of resources will be reduced, but also conducive to future market strength.
However, the trend for years, steel prices, steel mills are still relatively optimistic. Baosteel to tell reporters that the cost of iron ore and coal costs by rigid push is expected the second half of the domestic steel prices still remain high, due to capacity during the Olympic Games some of the impact of shutting down or reduced production, domestic steel demand after the Olympic Games still will remain strong.
Shrinking Downstream Demand Traders Expect Steel Prices To Adjust Off
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