"Gold Nine" is not good enough, "Silver Ten" steel price is expected to rise in shock

Near the end of the month, the steel price rebounded slightly. Driven by the demand for goods before the National Day, the steel market is expected to end in September in the "tail raising" market. However, looking back on the market in September, the market did not get out of the shadow of weak demand, the steel price did not make a substantial breakthrough, and the steel market's "golden nine" performance was not as expected.

In the futures market, the futures prices of deformed steel bars and hot-rolled coil plates have been hovering between 3700 yuan/ton and 3800 yuan/ton for a long time, and they have been unable to make a breakthrough, let alone recover 4000 yuan/ton of lost ground. In the spot market, as of September 24, the mainstream price of steel billets reached 3650 yuan/ton, down 40 yuan/ton compared with the beginning of September, and the prices of deformed steel bars and hot rolled coil plates rose 10 yuan/ton to 20 yuan/ton compared with the beginning of September.

In October, some areas in the north will gradually enter the heating season, and the environmental protection and production restriction will come as scheduled, which will play a certain role in inhibiting the release of steel enterprises' resources, thus improving the contradiction between supply and demand to a certain extent, and facilitating the recovery of steel prices.
On the whole, the market sentiment will gradually improve as macro policies continue to work and demand gradually improves. It is expected that steel prices will rise more easily than fall, and will act as a shock.