Short-term steel prices rebounded slightly or steadily

Last week, domestic steel prices continued to fall, and the total domestic steel social inventories declined slightly. As of May 3, the nation's total steel inventories fell by 0.89% to 2005.53 million tons, of which 9.993 million tons of thread stocks fell 1.6%, down 4.0% last week; wire 2.657 million tons fell 2.3%, down 4.2% last week; Hot-rolled 4.82 million tons increased by 0.6%, down 0.7% last week; cold-rolled 1.647 million tons by 1.5%, down 0.6% last week; the middle plate 1.538 million tons fell 1.2%, down 2.8% last week.

Only two days of the working day last week led to a narrowing of the decline in the total domestic steel social inventories, of which manufacturing companies were affected by the holiday more than the cold and hot rolled stocks have increased. Last week, due to the limited demand for terminal demand, there was always limited, and the “golden three silver four” was over, merchants' willingness to operate was significantly reduced. Many steel mills lowered their factory prices at the beginning of the month and failed to mobilize the enthusiasm of merchants. There is much room for bargaining, and market low-cost resources are not uncommon. The current market sees a strong hollow, and after most businesses adopt shipping-based operating strategies, the total steel industry stocks will continue to decline this week, and domestic steel prices are expected to rebound mainly in a narrow range.