📉 Steel Billet Prices Drop by 20 Yuan, 4 Mills Cut Prices, Steel Prices Operate Weakly

On June 17th, the domestic steel market prices fell weakly. Tangshan Qian'an's square billet resources fell by 20 Yuan, reporting 3,370 Yuan per ton (inclusive of tax). The morning futures were weak, and the domestic spot prices were stable with some relaxation. In terms of transactions, the overall market performance was average in the morning, and the actual transaction prices increased in the afternoon due to the unchanging decline of futures, with the whole day's transactions being average.

📊 Steel Prices Summary on June 17th

On June 17th, the futures main contract was weak, with a closing price of 3,613 Yuan, a decrease of 0.74%. The DIF and DEA continued to move downward, and the RSI indicators were between 35-45, operating between the middle and lower tracks of the Bollinger Bands.

🔍 Market Prediction for Steel Prices

From January to May, the national real estate development investment decreased by 10.1% year-on-year, an increase of 0.3 percentage points compared to January-April. Manufacturing investment grew by 9.6%, a slowdown of 0.1 percentage points; infrastructure investment grew by 5.7%, a slowdown of 0.3 percentage points.

Overall, the construction and manufacturing industries are in a low season, with weak steel demand. The supply side needs to reduce production to restore the dynamic balance of supply and demand. In the short term, steel prices are expected to operate weakly.