On October 17, according to the statistics of China Iron and Steel Association, in the first ten days of October, the daily output of crude steel of China Steel Association members was 1,642,700 tons, an increase of 0.18% from the previous month. It is estimated that the national crude steel output in the first ten days of October will be 1,933,900 tons, an increase of 0.18% from the previous month. Sheng Zhicheng, deputy secretary-general of China Federation of Iron and Steel Logistics Committee, told the China Securities Journal that the market demand in September and October this year is not as good as in previous years. In addition to demand, the steel price trend still needs to focus on capital cost and supply, and circulation. Whether it is capable of supporting, and whether the decline in steel prices can force the price of minerals to fall, the short-term overall is still shaking bottom. The risk of falling steel prices is still releasing the Xiben Shinkansen. Recently, the price of iron ore has accelerated. In order to reduce costs, steel companies are trying to consume the high-priced raw material stocks in the early stage as soon as possible. Some steel mills have begun to see a decline in raw material stocks and steel stocks. The phenomenon of rising, but the overall release of steel capacity is still at a relatively high level. On October 17, the domestic steel giants WISCO and Angang Steel announced the November steel price policy, showing that the mainstream products of the two companies were downgraded. Most of WISCO's products will be reduced by 100 to 500 yuan per ton. Anshan Iron and Steel's hot coil, pickling and other varieties are reduced by 300 yuan / ton, the price subsidy of 200 yuan / ton in October, galvanized, color coating down 200 yuan / ton, October price subsidy 300 yuan / ton. Industry analysts believe that since the domestic steel prices have continued to fall since late September, the two companies cut steel prices in line with market expectations. According to my steel network data monitoring, the domestic steel spot market continued to decline on October 17. On the 17th, the domestic steel spot market price decreased, and the prices of building materials in Lanzhou, Kunming and Chongqing plummeted by 100-150 yuan/ton. In terms of varieties, the domestic building materials market prices continued to fall, and the decline was significantly higher than the previous trading day. The average price of 25 regions fell by 40-50 yuan/ton. The price of some varieties has dropped sharply by 50-150 yuan/ton. My steel network analysis believes that the market is still going down, but from the market performance point of view, because the previous price fell too fast, and the current quotation is relatively low, the market competition for price reduction has slowed down, and the merchants' willingness to purchase goods is also weak. Therefore, it is expected that the market decline will slow down in the short term, but the weak situation is difficult to improve. On October 17, the Myspic Composite Index was 165.4 points, down 0.75% from the previous trading day. The current inventory is higher than the same period last year. According to my steel net national steel inventory statistics, the week after the holiday (October 8 to October 14) five major cities in the country's 25 major cities (rebar, wire, hot rolling, cold rolling And the medium and heavy plate steel stocks were 15.12 million tons, a decrease of 68,000 tons from the previous period. However, this inventory is higher than the 15.109 million tons in the same period last year (October 15, 2010), which is the first time since May this year, domestic steel inventories are higher than the same period last year. At the same time, the decline of 68,000 tons was also much lower than the drop of 365,000 tons in the same period last year. Industry analysts pointed out to this reporter that when the current capital cost is almost a record high, there is still such a large amount of inventory, which also indicates that the market demand is sluggish. On the other hand, high inventory is obviously an unfavorable support for steel prices. This is also a reason why many people are bearish on the market. According to the data of my steel network, in addition to the certain increase in the stock of hot-rolled coils, the other four major varieties have declined, among which the stocks of medium and heavy plates have fallen the most, down 43,000 tons from the previous period; Secondly, the wire was reduced by 38,000 tons, the rebar was reduced by 21,000 tons, and the cold rolling was reduced to a minimum, only 0.2 million tons. Hot rolled coil stocks continue to increase by 36,000 tons. From the historical data of my steel network statistics, the market inventory will increase after the National Day holiday, and then it will enter the process of continuous reduction, and will often continue until December.
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