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March steel price forecast of BBN steel

On the supply side: this Friday, the output of large-variety steel products was 10.338 million tons, an increase of 227,100 tons on a week-on-week basis. Only the output of hot-rolled steel coils continued to decrease.

In terms of demand: This week, the apparent consumption of the five major steel products was 9.284 million tons, an increase of 1.853 million tons on a week-on-week basis. This week, the speed of resumption of work at downstream construction sites has accelerated, coupled with the stimulus of the surge in steel price, demand has recovered significantly.

In terms of inventory: this week's total steel inventory was 32.64 million tons, an increase of 1.053 million tons on a week-on-week basis, and the growth rate further slowed down. Among them, the steel mill inventory was 9.674 million tons, a week-on-week decrease of 70,700 tons; the steel social inventory was 22,332,400 tons, a week-on-week increase of 1,124,600 tons.

Due to the sharp increase in steel price yesterday, downstream purchases have weakened, and some profitable orders have also cashed in demand. Today, the rise in steel prices has slowed down significantly, with some loosening. From the feedback of merchants, BBN steel forecasts it that demand release will gradually expand in the first ten days of March and mid-March, coupled with high cost support, and market mentality is optimistic. In the short term, even though the excessively rapid rise will lead to partial adjustments in the steel market, it may still be difficult to change the upward trend of steel price in the overall volatility in March.

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