Some blast furnaces resume production, and steel prices are cautiously chasing high

Some blast furnaces resume production, and steel prices are cautiously chasing high On May 5, the domestic steel market prices generally rose, and the ex-factory price of Tangshan common billet rose 20 to 4,810 yuan/ton. Recently, the market confidence has been restored, and the steel market has a good start after the holiday. However, the transaction at a high level is not good, the merchants are more motivated to ship, and the speculative demand performance is average. Due to the gradual improvement of the domestic epidemic prevention and control situation, the implementation of macro policies has been further strengthened, and market confidence has recovered. However, it is still necessary to remain cautious in the optimism. There are still many uncertain factors at home and abroad, such as the impact of the accelerated tightening of monetary policies by many countries on the market, and the progress of domestic enterprises’ resumption of work and production. Short-term steel prices may fluctuate at high levels, so it is not advisable to blindly chase high prices. Post time: May-06-2022