With the gradual arrival of the peak demand season, steel has entered a period of continuous destocking, and the steel industry has also ushered in a booming economy. The latest monitoring of the well-known steel spot trading platform Xiben Shinkansen shows that domestic steel prices on the 12th reached 4,740 yuan / ton, up 110 yuan / ton from the end of March. Although the industry is still waiting for the current situation, it is believed that the reversal has not yet arrived, but the research institutions have taken active actions to start extensive research on listed companies. According to some opinions, the steel sector has been restored from the previous valuation and evolved into a trend-oriented market supported by the improvement of the fundamentals of the industry. Terminal demand began to exert momentum Although the steel price trend fluctuated in the past month, with the gradual recovery of downstream demand and the repeated rise in raw material prices since mid-March, domestic spot steel prices also rebounded. According to the monitoring data of many industry organizations, the national steel market continued to rise yesterday. The rise in the northern market is particularly strong. At present, the steel price in Beijing is close to the high point at the beginning of the year. The building materials in the Shanghai market generally rose by 30-50/ton. The price cuts of big steel mills eased upside down, and the small steel mills pulled up to support the market price. The price increase depends on the volume of terminal demand after the arrival of the peak season. According to the data of the Xiben Shinkansen trading platform, the demand for terminal purchases in Shanghai was significantly increased last week, and the average daily transaction volume increased by 57.85%. At the same time, the stimulating effect of rising prices on intermediate demand is also very obvious, and the reverse trade has increased compared with the previous one. Analysts believe that the effect of the "golden three silver four" steel consumption season has been reflected. Not only domestic demand, but also international market demand continues to expand. According to customs statistics, China’s steel exports in March were 4.91 million tons, up 98% from February. Zhang Tieshan, an analyst at “My Steelâ€, told reporters: “In February, the export base was affected by the factors of the Spring Festival holiday. The export volume in March rebounded sharply. The above reasons are there, and global demand is relatively strong. China’s steel has the advantage of price difference. The factor. According to TSI data, the current international price of hot rolled coil is close to $900/ton. Domestic steel prices are still at the level of 730 US dollars / ton, domestic and international spreads will further stimulate steel exports. Research institutions have fully mobilized the industry's demand for the peak season, and the current capital market's dual role in the low valuation sector, the research institutions re-energize the confidence of the steel sector. Many analysts believe that the current steel industry already has the fundamental support for improvement, and is moving from the previous valuation restoration to the trend market. The steel sector performed fiercely in 2010, with steel stocks occupying four seats among the top 10 stocks that fell the most in the year. Under pressure, some steel industry analysts have even turned to other industries. The latest changes show that steel analysts are re-energizing and the company is actively investigating listed companies as the steel sector becomes more recognized. A number of iron and steel enterprises secretarial office officials told reporters that the number of institutions that require research to the company has increased significantly compared with last year, and the relationship between institutions and companies has become more frequent. A number of seller agencies held a conference call to recommend the value of the steel industry to investors. “The steel sector is no longer a simple valuation fix. It has been defensive from the first quarter to an offensive one.†Qi Lu Securities analyst Yan Hui told reporters yesterday that there are three logics for the industry to continue to be optimistic: domestic demand continues Driven by the continued expansion of steel exports and the upcoming shortage of domestic steel smelting capacity. According to the survey, steel companies in Hebei and Jiangsu have been operating at full capacity, with a capacity utilization rate of 95%. In the case of continued expansion in peak season, steel smelting capacity will re-emerge in part, which will further push up steel prices. However, compared with the optimism of research institutions, some steel companies are still unclear about the current situation. Insiders of two large steel companies in Hebei and Anhui told reporters that the current terminal demand is good, "the profitability of mainstream varieties is good", but enterprises still have doubts about the economic situation and changes in monetary policy. Although the profitability of steel mills has improved significantly compared with the second half of last year, it still does not exceed the profitability level of the first half of last year. The industry is still hard to say that “the economy is reversedâ€.
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