SA283 Gr C steel sheet prices are expected to rebound after weak shocks next week

The total social stock of SA283 Gr C steel sheet and so on steel increased by 1.9% to 15.058 million tons this week, up 3.1% last week. Among them, 8.171 million tons of thread steel, 2.5% increase; 2.026 million tons of wire rod, 1.9% decrease; 2.605 million tons of hot rolling steel, 3.1% increase; 1.177 million tons of cold rolling steel, down 1.6%; 1.079 million tons of medium steel plate, an increase of 6.3%.

We believe that this week's SA283 Gr C steel sheet and so on steel prices rose strongly driven by futures, terminal buying did not buy down, low turnover improved, leading to a slowdown in social inventory growth.

At present, there is resistance to the rapid rise of SA283 Gr C steel sheet and so on steel prices in the downstream, but the continuous rain in the South will gradually disappear next week, and the demand will pick up. Therefore, it is expected that the SA283 Gr C steel sheet and so on steel price will be weak first and then rebound next week.