On the 23rd, affected by the news of the Sino-US trade war, the futures market fell sharply. Except for the double coke in the black sector, thread hot coils and iron ore hit the daily limit, and market confidence was more pessimistic. The spot market has fallen sharply. Tangshan billet plunged 140 yuan / ton to 3370 yuan / ton in the afternoon, affecting the scrap market. Shagang fell 30 yuan / ton in the morning, followed by the fall in East China and North China. In the afternoon, some steel mills started the second round of price adjustment, especially some electric furnace steel mills plummeted 100-150 yuan / ton, and the market panic increased.
Except for the trade war factors, fundamentally speaking, due to the relatively slow start of demand compared to the same period last year, the social steel stocks increased, while the restart and production of electric arc furnaces increased compared to the same period last year, and the increase in the supply of finished products, leading to a decline in HG785D steel plate prices since March , EAF production may become the main line affecting market conditions this year: high inventory and increased production expectations are expected to weaken, resulting in lower prices, will first put pressure on EAF production, which will lead to a decline in EAF operating rates, scrap steel The sharp fall in prices and the decline in the inventory of finished products brought a rebound in the market. Therefore, the start of the electric arc furnace and the impact of scrap demand will also affect the market trend.
In the past two weeks, we have tracked the operating rate of independent electric arc furnace steel plants nationwide. From the old sample (53 steel mills), as of March 22, 53 independent electric arc furnace steel mills had an average operating rate of 71.11%, an increase of 0.16% from last week; the capacity utilization rate was 55.42%, compared with last week Down 0.29%. Affected by the sharp decline in the prices of finished products, steel mills in some regions have stopped or reduced production, which has led to a decline in the capacity utilization rate of electric arc furnace steel mills.
Next post: Domestic HG785D steel plate market prices have slowed down today
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