Weak fundamentals remain weak in Shanghai steel
From the domestic futures market, the sell-off in the rebar futures decline in the main contract since April 13th 1210, hit 4400 yuan / ton high mark integer after nearly a month of continuous decline, a decline of nearly 10%.
China steel network view: Although the macro on the surface of the good news, however, the steel market was “dense willow trees and bright flowers”. Good news to boost market confidence, however, the real improvement in the steel market to look at the face of the downstream demand”. Now to June, rainy weather started and high temperature will affect the downstream industry, which led to the release of a large number of demand can not, in this case, the steel city is expected to untold true improvement.
Experts say the Daxing steel overcapacity increase NDRC approval or waste paper
Objectively speaking, the mayor of Zhanjiang may be too early to be happy. Today’s situation is not the same as the end of 2008 and early 2009. At that time, with the development and Reform Commission approval, the bank will loan funds, and the implementation of projects at the same time. Now the situation is that although the NDRC approval, the commercial bank may refuse to loan.
Chinese steel network view: in the face of the heavy steel, in the face of this new approval, people see hope, some people are full of fears. To tell the truth, I see a concern, in the entire steel industry is in a state of almost saturated winter, production capacity in the steel industry under the condition of new projects approved had caused all of late overcapacity concerns.