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The short-term steel market may maintain a narrow range of shocks

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The short-term steel market may maintain a narrow range of shocks

Due to the shortage of coking coal sources and the excessively high coal price, the profits of coking companies have shrunk. Some coking companies have started the third round of raising 120 yuan/ton today. Some coking companies have been forced to limit production and some coking companies in Shandong are still facing environmental protection and inspections. There is a certain percentage of production restrictions, and coke supply tends to be tight. In terms of steel mills, the demand for replenishment is still there, some steel mills have low inventories, and their purchasing enthusiasm has increased. It is

expected that the probability of picking up this Friday will be greater. The Shaanxi Coal Trading Center stated that since the National Development and Reform Commission announced the release of the resumption of production at 38 mines in Ordos last Friday, the coal market in Shaanxi and Mongolia showed signs of loosening. On August 4, the National Development and Reform Commission again notified Inner Mongolia, A total of 15 coal mines in Shanxi, Ningxia, and Xinjiang will continue their production for another year. Under the influence of the above two events, it is estimated that the national coal production capacity will increase by about 10 million tons per month, which will undoubtedly create a downward trend in coal prices. Given the opportunity, whether the price can go down depends not only on the alleviation of the supply contradiction, but also on the combined effects of the current rebound in the epidemic, the conversion of solar terms, and the expected winter coal purchase. It is expected that the relationship between coal supply and demand will remain tight in the future, and coal prices will continue to run at a high level The status is still difficult to change.