Analysis of API 5L X70 PSL1 material and so on steel market in the second half of the year

Since May, API 5L X70 PSL1 material and so on steel prices have risen steadily driven by strong downstream demand and the release of compensatory demand after the outbreak. Take the main contract price of futures as an example, up to now, the price of screw steel has increased by about 230 RMB / ton, equal to 6.8%; the price of hot rolled coil plate has increased by about 330 RMB / ton, equal to 10.2%. The price of raw materials for API 5L X70 PSL1 material and so on steel increased more significantly, iron ore price increased by 150 RMB / ton, equal to 24.4%; coke price increased by 260 RMB / ton, equal to 15.5%. It can be seen that, in addition to the demand stimulus, the cost drivers are also more obvious.

In my opinion, the cost supporting effect of API 5L X70 PSL1 material and so on steel market in the second half of the year will show normalized characteristics such as structural, speculative and trendy, which will affect the trend of API 5L X70 PSL1 material and so on steel price.