On April 14, the domestic steel market fluctuated strongly, and the ex-factory price of Tangshan common billet was stable at 4,780 yuan/ton. On the 13th, the regular meeting released a signal to lower the RRR, and macro expectations continued to be strong. On the 14th, black futures generally strengthened, the downstream purchasing sentiment improved, and the low-level transactions were slightly heavy.

At present, the domestic epidemic situation is showing a trend of multi-point distribution, and there are different levels of control and even closure and control policies. Many places are faced with problems such as poor logistics and distribution, delayed construction of construction sites, and mismatch of regional resource supply and demand. The weaker-than-expected demand in April restrained the rise in steel prices. At the same time, high costs and expectations of the central bank’s RRR cut support steel prices. There are still many uncertainties in the short-term market, and steel prices may continue to fluctuate within a range.