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There is a risk of phased callbacks in steel prices in the later stage

Posted:2021-04-08 15:09:19

The steel price in the later stage is not without risks. There are two main risk points: first, the current price actually contains more sufficient supply contraction expectations and high demand expectations. If there is a significant gap between the later expectations and reality, or there is no specific change on the supply side. The promulgation of powerful measures, and the high steel prices have also suppressed the profit margins of downstream end consumer companies, which will cause the risk of phased corrections in steel prices.

Second, the profits of steel mills have reached an absolute high level. Although carbon emission planning has significantly inhibited the production in Tangshan, it is not known whether the areas outside Tangshan can increase production and make up for the gap under the driving of high profits. Therefore, the production of blast furnace outside Tangshan area needs to be kept on the watch.