In June, the hot rolled steel coil market still focused on the recovery of demand side. The sustained efforts of China's steady growth policy, coupled with the impact of the news of resumption of work and production in East China, may bring some positive expectations to the hot rolled coil market, but the boost may be limited under the background that demand has not yet recovered. In addition, during the epidemic period, the demand continued to be poor, the resumption of production in East China was constantly questioned, and the market speculation power was insufficient, which also dragged down the rebound of the hot-rolled coil market to a certain extent.
In addition, from the supply side, the reduction of production of steel mills is insufficient, and the supply of hot-rolled coil market is still at a relatively high level. In addition, the steel mill inventory and social inventory consumption still need time, which also brings certain pressure to the hot rolled steel coil market.
On the whole, in June, the macro-economic control policy continued, the policy turned right and the reality turned left. It is difficult to change the oversupply situation, and the actual demand is difficult to change for the time being, which will continue to restrict the rebound height of the hot rolled steel coil market. It is expected that there will be downward expectations in the hot-rolled coil market in June.
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