There is a game between steel demand and inventory

High price and high inventory are the most obvious characteristics of the current steel market. In this case, demand has become a key factor affecting the market trend. However, the market demand expectation of "golden March" has not been fully realized. Due to the lag of demand follow-up, some market participants began to move closer to the low price in operation. As of March 19, the social stock of steel products in China's key cities reached 19.0131 million tons, a decrease of 6067 million tons on a week-on-week basis. The stock of steel products fell slowly, and the market stock pressure gradually eased. From this point of view, the steel price is no longer expected to "load forward".

On the whole, although the fluctuation of steel price is enhanced at the present stage, under the effect of "golden March silver April" peak season effect, steel price still has strong repair ability. As the pace of demand release accelerates, there is still considerable upward space for steel price. Under the effect of the price support policy of steel enterprises, under the influence of the factors such as the steel inventory entering the decline channel and the environmental storm restraining the production of steel enterprises, the steel price is expected to walk out of a real peak season market led by the demand.

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