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Steel industry: steel prices continue to decline to give an "overweight" rating

   Market rebound this week, the Shanghai Composite Index rose 3.91% week, including the steel plate or 3.95%. This week the first half weeks due to weather greater impact on downstream demand, steel prices continued the trend last week, continued to decline sharply. Rain eased off the South later this week, purchase a certain terminal recovery, steel prices have stabilized. From the sub-sector performance, the Japanese steel orders have a car to restore. In addition to laundry appliance industry, large orders for better air conditioners,swing chain refrigerators appliances, large enterprises will have a certain replenishment. Construction orders acceptable short-term may be influenced by the weather. The small area of ??metal industry has discontinued the proliferation of procurement in the doldrums. Steel pessimistic expectations for the third quarter, reducing the procurement of raw materials. Industry started to rely on the protection of housing incremental start-up; domestic steel: steel prices accelerated this week, down. Southern half weeks still rains plagued the already weak demand even more sluggish.

    Strong performance with pre-ex-factory price of building materials are generally lower, the market suffered a further blow to confidence, businesses have cut prices ship, sell into the strong emotions. Rain eased off later this week in the south, since steel prices decline on Thursday and pick up signs of slowing, but demand is expected to remain in the pessimistic case of the dominant market, businesses still focus on the release of inventory, short-term rebound in steel pressure;

   iron chain Inventory: This week, the Shanghai market stocks 360,220 tons Rebar, down 01,060 tons from last week, hot-rolled inventories 1,496,360 tons, down 05,910 tons from last week. After adjustment this week, a certain downward pressure on steel prices ease, but still at an early reduction in building materials prices, businesses are more fragile state of mind, once the bad there, you can make the market mood fluctuation, library throw a lot of risks remain ship;

    International steel prices: the international week of different steel grades were mixed, the regional board prices generally fell, while European steel prices rose.

    Data show signs of weakening U.S. manufacturing sector, there is a big post-steel demand uncertainty, short-term price pressure; and the two prices of building materials in Europe and America mainly related with the previous ex-factory price of the upgrade, but the demand in the off-season is approaching summer break occasion, the price rose slightly less power;

    Raw material: the domestic ore price correction this week, 66% iron concentrate in Hebei spot price 1345 yuan / ton, down 10 yuan / ton, 63.5% of Tianjin Port grade Indian iron ore prices for 1315 yuan / ton , last week the price fell 10 yuan / ton. Imported ore, the main overseas ore price 177 U.S. dollars / ton, down 5.5 U.S. dollars / ton. The recent trend of low steel prices, steel mills for raw material procurement to wait and see. Weakness in steel demand is still the mainstream market expectations, with annual steel companies faced the late period of concentrated ore demand will be affected in the short term the possibility of higher ore price weakens.

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