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Steel prices of steel stocks was down turned up by the drop

    China Steel Association's latest data show that in April, China's sustained steady and rapid development, market demand to grow, steel stocks down significantly, the steel price rise by the turn down. Since the release of iron and steel production capacity rapidly in the international market prices, reduced exports and other factors, the market is expected to post slight fluctuations in steel prices will show a running posture.

     4 at the end, swing chain China Iron and Steel Industry Association, CSPI composite steel price index 134.73 points, up 3.50 points late last month, an increase of 2.67%; with the same period last year, the composite steel price index rose 7.19 points, an increase of 5.64%. 4 at the end, the country's 26 major steel market stocks of five steel community was 15.41 million tons total, a decrease of 2.48 million tons, a decline of 13.83%. Larger decline in inventories of long products,iron chain steel, wire, chain inventory decreased by 16.50% and 24.08%; sheet in coil and cold plate inventories decreased by 10.74% and 11.73%, plate inventories rose slightly to 1.90%. Into May, steel stocks continued to decline.

     Although the stock down, but the oversupply situation in the domestic steel market is also difficult to change the short term. At the same time, domestic demand for steel exports dropped by the international market, RMB appreciation and the impact of international trade protectionism, and other factors decreased, still on the domestic market is expected to post oversupply situation.

     CISA analysts believe that although the domestic market and gradually into the steel consumption season, but quickly released by the production, decline in international market demand and credit policy tightening and other factors, post-market fluctuations in steel prices will show a slight run trend.

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