6月份钢铁PMI显示：供需双弱格局延续 钢市继续承压运行

Core Viewpoint - The steel industry continues to face pressure, with the PMI for June at 45.9%, indicating a contraction in activity and weak demand [1][2] Demand Analysis - Steel demand remains weak, with the new orders index at 45.6%, down 0.8 percentage points month-on-month, reflecting a lack of optimism in the overall economic outlook [2] - Extreme weather conditions in southern China have significantly hindered construction progress, further impacting demand [2] Supply and Production - Steel production continues to tighten, with the production index at 43.5%, indicating insufficient recovery in production activities [3] - Daily crude steel production in early June was 215.9 million tons, a 3.2% increase month-on-month, but overall production remains below demand levels, leading to a slowdown in inventory reduction [3] Price Trends - Raw material prices are under pressure, with the purchasing price index dropping to 25.6%, remaining low for eight consecutive months [4] - Steel prices showed minor fluctuations in June, with the Shanghai rebar price index ranging from 3032 to 3069 yuan per ton, reflecting weak terminal market demand [4] Future Outlook - In July, steel demand is expected to continue its weak trend due to extreme weather conditions affecting construction activities [5] - The steel market is likely to see continued low price fluctuations, with potential impacts on steel mill production due to squeezed profit margins [5]