Grain supply and demand at both ends of the rebound steel market is still facing greater pressure

On Thursday, the 10 contract choppy upside, closing 3546 up 2.84 percent, down 33,758 lots. 1 morning Tangshan Pu square billet factory 3320 up 20, Shanghai building materials prices rose many times, then rose 10 yuan in the afternoon. This week, both ends of thread supply and demand rebounded, production growth decreased compared to last week, table demand rose again to more than 3.1 million tons, inventory continued to go out of storage state. Today's market sentiment is somewhat improved by the recovery of Caixin PMI, coupled with the speculation of iron ore supply side news, the black continued strong operation, but the current off-season pressure of grown materials, we need to pay attention to the change of market sentiment. Under the influence of macro factors at home and abroad, the risk aversion of the market is rising, while the steel supply is stabilizing and recovering corresponding to the off-season of demand. The mismatch pattern of supply and demand makes the industrial sentiment still pessimistic, and the steel market is still facing great pressure. It is expected that the steel price is still weak under the pressure of supply and demand, but as the price falls to a low level, the volatility is intensified under the speculation of news.