August 9 steel market forecast: steel prices are expected to rise

On August 8, the average price of 3.0 hot rolled coils in 24 major markets nationwide was 3,722 yuan/ton, up by 5 yuan/ton from the previous trading day; the average price of 4.75 hot rolled coils in 24 major markets nationwide was 3,640 yuan/ton. Increased 5 yuan/ton over the previous trading day.

Billet dynamics, Tangshan billet prices held steady yesterday. Opening this morning, the current local carbon billet price of 150 yuan 3130 yuan / ton, 165 rectangular billet 3160 yuan / ton, low alloy billet 3250 yuan / ton tax ex-factory, dealers naked price 3040 yuan / ton, Changli billet Cash ex-factory price of 3130 yuan/ton.

According to domestic news, the CPI was announced in July this year, or the increase may rise to about 2.8%. The National Bureau of Statistics announced today the July Consumer Price Index (CPI) and the Industrial Producer Price Index (PPI). A number of agencies here forecast that due to the increase in vegetable and pork prices, the CPI rose or rebounded to about 2.8% in July, while the year-on-year decline in PPI is expected to further narrow.

International news, Beijing time on August 9 news, US stocks closed higher on Thursday, this is the first time this week US stocks rose. China's trade data is better than expected. Investors are assessing the US’s initial jobless claims data last week to speculate on when the Fed will withdraw its stimulus policy. At 16:00 EST on August 8th (04:00 on August 9th, Beijing time), the Dow Jones Industrial Average rose 27.57 points to close at 15,498.24 points, or 0.18%, and the Nasdaq Composite Index rose 15.12 points. It closed at 3,669.12 points, or 0.41%, while the Standard & Poor's 500 Index rose 6.56 points to close at 1,697.47 points, or 0.39%.

According to market trends, the price of HRC in some parts of the country maintained a slight upward trend yesterday. However, due to shipping and hot weather, the price in Jinan dropped by RMB 30/t. The current market sentiment is relatively strong. For the latter market, most businesses stated that the major steel mills in September are still expected to push up prices, and the cost support for steel will run through the steel market in August. From the steel mills, the major steel mills are currently holding hands. The export order volume fell for two consecutive months. After the steel price pushed up to a certain peak in the later period, the steel plant resources turned to be domestically possible. In the latter period, the steel price may still be threatened by the capacity. However, as the favorable information from the macro market lifted, the gravity of the steel futures and forward prices moved up. Affected by this, it is expected that the price of coils in some regions will continue to rise, focusing on the July economic data.