June 4th A387 GR.11 CL.1 steel prices

On June 4th, the domestic steel market fluctuated at a high level, and Tangshan steel billet output was stable at 3330 yuan/ton. After the recent price increase of iron ore and coke, the cost pressure of steel mills has increased sharply. After theOn June 4th, the domestic steel market fluctuated at a high level, and Tangshan steel billet output was stable at 3330 yuan/ton. After the recent price increase of iron ore and coke, the cost pressure of steel mills has increased sharply. After the A387 GR.11 CL.1 steel prices have risen for several consecutive days, the end user acceptance is not high. In high temperature and rainy weather, A387 GR.11 CL.1 plates demand is difficult to continue to improve. Although the inventory data released this week is still declining, the price of futures snails is weak, and it fell back in the afternoon. It is worth noting that Shagang's scrap prices have increased by RMB 80/tonne since June 5, 2020. Compared with the finished products, the prices of raw materials have been stronger.
 
According to the China Steel Association, in late May, key statistics showed that steel companies produced a total of 23.0176 million tons of crude steel, 20.416 million tons of pig iron, 22.7257 million tons of steel, and 3.5387 million tons of coke.
 
It is worth noting that the inventory decline was obvious in late May, and the key statistics of steel stocks of steel enterprises were 13.286 million tons, a decrease of 1.5972 million tons or 10.73% from the previous period; an increase of 3.536 million tons or 39.38% from the beginning of the year.
 
Due to the strong price of raw materials superimposed on the news of Tangshan Steel's limited production, the steel period this week is synchronously rising, and it also stimulates end users to concentrate on purchasing. Considering the high temperature and rainy weather in June, the demand for A387 GR.11 CL.1 steel plates may be difficult to continue to improve. Recently, the high price transaction has not been good, and the short-term steel price may be weak.

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