Forecast of China steel price next week
In November, the steel market price ushered in a wave of success, but it did not last. Does it mean that the steel price rebound market is over? With the arrival of the solar term in the beginning of winter, will it become a turning point for the arrival of the seasonal off-season in the steel market.
From the news point of view, in the near future, whether the Sino US trade negotiations tend to be good or the re fermentation of environmental protection themes, including the unexpected disguised interest rate cut by the central bank, all have formed an obvious impetus and support for the market in early November. At the same time, from the perspective of the stock reduction speed of steel mills and social stocks, it shows that the downstream demand also maintains a strong toughness, which is also the most basic condition for steel price to rebound in stages under the background of downward trend in the near future.
But at the same time, it should be noted that the trend of steel price operation is not completely reversed due to staged rebound. In the case of steel price decline, the sustained rebound is not solid. Even if the latest news from China and the United States came back over the weekend, the two sides agreed to cancel the tariff increase in stages as the agreement progressed, as well as obvious good news such as stock reduction, etc., it still failed to make the spot price rebound again.
On the whole, even if the Sino-U.S. trade and the obvious speed of destocking fail to boost the market, the possibility of the steel market weakening will be relatively greater if there is no greater good support next week.