Continuous destocking supports A516 Gr 70 steel prices

On Friday, the output of large varieties increased by 114900 tons, the A516 Gr 70 and so on steel inventory decreased by 932700 tons compared with last week, and the decline rate narrowed slightly. The apparent steel demand decreased by 257300 tons compared with last week.

On the one hand, it reflects that the current A516 Gr 70 and so on steel demand continues to release, the supply and demand structure continues to improve, and the inventory pressure continues to ease; On the other hand, the decline of apparent demand also shows that the current high price has a certain degree of inhibition on terminal procurement.

But on the whole, continuous destocking is conducive to support the continued rise of A516 Gr 70 steel prices.