The peak season is coming to an end, the thread table needs to be weak, to the warehouse situation is slowing down. The economic recovery has been bumpy, the growth of infrastructure and manufacturing has slowed down, the sustainability of the recovery of real estate sales is facing a test, and it takes time for new construction to repair, and steel exports continued to remain high in April to ease domestic pressure. With the profit margin improvement of tons of steel, steel production has slowed down, some have begun to resume production, pay attention to the promotion of crude steel reduction. Disk below the enhanced support, the rebound is relatively insufficient, there are still short-term repeats, attention to market sentiment changes.
At the supply end, iron ore shipments picked up slightly, and domestic shipments to Hong Kong improved significantly month-on-month, but were still low year-on-year. Some areas of the demand end announced crude steel flat control policy, superimposed steel mill profit is low and the impact of weak terminal demand, hot metal production is expected to continue. The national port inventory of iron ore keeps destocking trend, but destocking speed gradually slows down. On the whole, iron ore is still suppressed by the negative feedback of the industrial chain, but in the early correction range has been larger, we expect iron ore trend shock.
