The overall performance of the domestic iron and steel industry in June was average. Among them, the weakness of steel plates was difficult to change, and the fluctuation of raw materials and long products was strong. In addition, the cost pressure of steel mills continues to increase, and profits continue to shrink, which is transmitted by the industrial chain and passed on to the downstream. As a result, transactions in the trade market are deserted, and the contracted shipment volume between factories and construction sites has also decreased, and some markets have prices but no market. On the other hand, the C12200 Copper Sheets price for Sale futures market is trending well, indicating strong market expectations in the future. And the current arbitrage of steel mills is transformed into hedging.
Speculators increased their position arbitrage. Cause the current C12200 Copper Sheets price for Sale to continue to rise, which may be beneficial or consumed in advance. However, judging from the spot market, the off-season demand in July and August may be difficult to support the current high prices. After the expected production restriction is magnified, the positive transfer of supply reduction will be at least in mid-July. Canada's Sino-US trade renegotiations brought positive macroeconomic stimuli. It is expected that steel prices will fluctuate mainly in the first half of July, and will drive the prices of raw materials to continue to rise. Then, with the slow shrinking of demand and the cautious procurement brought about by the excessively high prices, the price gradually adjusted back. The overall idea is still relatively empty. The business range of the Steel Index is 970-1000.
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