Steel prices generally fall

Steel prices generally fall On May 6, the domestic steel market fell, and the ex-factory price of Tangshan billets fell by 50 to 4,760 yuan/ton. In terms of transactions, the market trading atmosphere was deserted, the high-level resources were low, and the market sell-off was strong. During the May 1st period, some domestic steel mills resumed production, but demand contracted due to the holiday, and steel inventories accumulated after the holiday, which brought a certain pressure to the bullish atmosphere of the market. At present, the domestic epidemic prevention and control situation is gradually improving, but there are also many uncertain and bearish factors, including the global epidemic is still at a high level, the conflict between Russia and Ukraine continues, and the central banks of many countries are accelerating monetary policy tightening. Under the premise of not seeing the continuous and stable release of domestic demand, market confidence is still unstable, and steel prices have not yet shaken off the shock pattern. Post time: May-07-2022