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Billet price increases, raw iron prices stable

Jun. 13, 2018

During the week, domestic steel billet prices rose slightly and the overall market turnover was positive. The hot summer heat and the rainy season have come. The shortage of finished materials depends on the supply shortage. The market is difficult to accept a substantial increase in prices. Traders are generally not optimistic about the market outlook. The environmental protection inspections in the East China market were strict and the rolling mills stopped production. The billets continued to be in a state of priceless market, the market supply and demand were weak, and the prices were down. Tangshan billet prices continued to rise, the market trading atmosphere was active, the market’s rising sentiment was strong, and the operation was positive. Supported by the tightening of steel plant resources, the middlemen have a good attitude. There is a certain willingness for manufacturers to pull up. Coupled with the continuous decline in inventory, business sales pressure is weakened, and there is no willingness to ship at low prices, which will play a good guiding role in the market. With the closing of the SCO summit, Shandong and Xuzhou steel mills will resume production quickly. Therefore, the current billet prices are high and the downstream terminal demand is limited. It is expected that the late billet market will weaken.

During the week, the domestic raw iron market was still operating smoothly, and transactions across the country were mixed. Affected by environmental protection factors in Shandong, iron plants and steel mills have restricted production and stopped production. The existing ironworks have a small amount of inventory, but the scrap price is relatively low. The steel mills purchase more scrap steel. They have already prepared raw iron in the previous period, and the market transactions are relatively deserted. It is still difficult for the ironworks to ship after lowering the price. The upstream raw material market performed generally. Excluding slight fluctuations in the prices of imported iron ore, most of the varieties were stable. Although the willingness of the market was strong, the favorable operation of the raw material market had not yet formed a strong support for the raw iron market. At present, the inventory of the raw iron market is still high and the shipment is not smooth. Therefore, the iron plant with its shutdown and production reduction in the early stage has not yet started construction plans, and shipments are mainly based on digesting the inventory at the early stage. Overall, it is expected that the domestic raw iron market will maintain stable operation in the later period.

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