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Steel prices stabilized situation presents preliminary

after experiencing deep down, steel prices showed an initial stabilization trend, although the trend is still tangled, but market confidence has been restored to a certain extent than before. Monitoring data show that the current steel prices have fallen over the high point of the year 600 yuan / ton, down 12.21%, while the cumulative decline only in September and October amounted to 500 yuan / ton, look in the "golden nine silver ten" bleak ending. However, steel prices plummeted in the process also makes some bad to digest, so the increase in steel production maintenance, inventory and yield double down, under repair adjusted capital markets background, domestic steel prices decline to suspend, North, South China steel appears tempted to rise, while the Shanghai region sideways steel back rest state.
data showed last week, the Shanghai market steel prices decline significantly narrowed. As of November 4, the steel index closed at 4290 yuan / ton, down from Friday 20 yuan / ton; same period, Shanghai rebar representatives of secondary and tertiary quality product specifications adjusted to 4220 yuan / ton and 4,450 yuan respectively. / ton, a slight decrease from the previous week are 20 yuan / ton.
supply reduction and lower inventory levels become temporarily away so that steel prices continued to fall to the shadows of the main reasons. With the significant downturn in steel prices since mid-October, some domestic steel companies began to enter into a substantive cut, cut stage. According to CISA statistics show that in mid-October daily output of 1,588,200 tons of crude steel in key enterprises, late decline of 3.32%. Meanwhile, with the increase in production in northern mills overhaul, the recent North timber also has slowed the pace of the south, it is expected that the latter will supply pressures eased from the previous month. In addition, the recent rapid destocking, not short-term pressure on the stock in circulation, so although the futures market during the amplitude is large, but the spot price performance placid
Iron ore prices have also plummeted after
started slightly warmer. Since the early part of the small inventory of raw materials to melt steel faster, recently purchased a small amount of re-re-production of raw materials and, therefore, had imported ore prices plummeted last week after a rebound. According to monitoring, 63.5% Indian iron ore has low $ 129 by the year / ton to $ 131 / ton, while billet prices despite repeated movements, but the current carbon steel billet in Tangshan 3,850 yuan / ton price from the previous month 3720 yuan / ton lows has rebounded 3.5 percent. West of the Shinkansen analysts believe that prices of raw materials at the bottom of the stage or appear

However, as market confidence remained inadequate, some businesses are also relatively cautious on the stockpile. Since steel prices stabilize, the market turnover over the previous atmosphere has improved, but overall is still relatively low. Steel City prior to digest bad yet substantial, is expected to end the actual market transactions will continue to consumption-based, hands down the middle of trade is still difficult to fully boot.