Steel price is increasing in Jul (2023)

On July 28, 2023, the sentiment index of Mysteel steel market was mixed, and the sentiment index of various varieties was above the level of prosperity and decline as a whole, showing that the market sentiment this week is still stable and relatively strong. 

Specifically, domestic steel prices fluctuated and rose this week. On the one hand, the continuous release of favorable macro policies, the market expectation has changed from wait-and-see to positive, and the overall atmosphere has become warmer than the previous period; on the other hand, fundamental expectations have also continued to warm up. The release of production control plans for the second half of the year has driven both futures and spot markets to rise, and the market's speculative demand is also active. 

As far as the current market is concerned, market fundamentals and overall expectations continue to improve, and the overall atmosphere is good. However, demand in the current off-season still suppresses rapid price increases. It is comprehensively expected that domestic steel prices may continue to fluctuate strongly next week.