China Iron and Steel Association in the June 16 steel market statistics report, said that the current domestic steel market prices have fallen to the mill near the cost line, continue to fall sharply limited space. In addition, some companies have begun to adopt measures such as reducing production, stopping production, and overhauling to control production. It is expected that the steel market will show a trend of slight adjustment and narrow oscillation in the later period.
The data shows that domestic steel stocks fell slightly in June but remained high. At the end of June, the five steel social stocks in the 26 major steel markets nationwide totaled 15.72 million tons, a drop of 60,000 tons from the previous quarter, a decrease of 0.4%, and an increase of 75.3% compared with the same period of last year. Inventory continues to be at a high level, putting pressure on steel prices.