Supply - The production of major steel materials has shown a slight increase, with total output rising by 12.5 million tons to 8.81 million tons, and rebar production increasing by 5.7 million tons to 2.17 million tons [2] - Iron water production decreased by 0.11 million tons to 2.42 million tons, while hot-rolled coil production increased by 1.8 million tons to 3.273 million tons [2] - The cumulative year-on-year growth of iron element production from January to June was 15 million tons, with an average daily increase of nearly 100,000 tons [2] Demand - The apparent demand for the five major materials has decreased slightly, with rebar demand showing a more significant decline, while hot-rolled coil demand remains high [3] - The apparent demand for the five major materials decreased by 4.3 million tons to 8.8 million tons, with year-on-year demand remaining flat from January to June [3] - Domestic demand has decreased year-on-year, while external demand has increased, leading to a slight overall increase in total steel demand [3] Inventory - Steel inventory is approaching a point of accumulation, with recent low-level inventory showing fluctuations [4] - The inventory of the five major materials remained flat, increasing by 1 million tons to 13.4 million tons, with rebar inventory decreasing by 2 million tons to 5.49 million tons [4] - Hot-rolled coil inventory saw a slight increase of 1 million tons to 3.41 million tons [4] Outlook - The end of environmental inspections has led to expectations of production resumption, which has negatively impacted coking coal prices [5] - The steel market is currently in a low-demand season, with expectations of further demand decline in the future [5] - The pressure levels for hot-rolled coil and rebar are still at 3,150 and 3,050 respectively, indicating potential short-selling opportunities [5]
钢材：焦煤供应干扰结束 黑色金属价格或再次回落
Jin Tou Wang·2025-07-01 01:49