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Steel industry: inventory has reached a low level, and environmental protection further supports ste

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Note: This week steel stocks totaled 715 thousand and 900 tons, and stocks continued to go high. In May this year, the average
 This week steel stocks totaled 715 thousand and 900 tons, and stocks continued to go high. In May this year, the average weekly turnover rate of steel is about 700 thousand tons. In the traditional demand, the steel output data, which is slightly rising, shows that this performance fully shows that the demand for steel is weak. The latest total steel inventory is 15 million 438 thousand and 400 tons, which is lower than the same period last year. And inventory structure continues to optimize, steel mill inventory continues to remain low, high thread and wire rod social inventory in the rapid transformation. Before the market worried, the shift of stock from society to steel mills did not happen. In view of the strong performance of steel stocks in May, we believe that in June, the removal rate of steel will be better than that in the same period.
Under the impact of high speed inventory, the spot price of steel is generally rising this week, the spot price of Shanghai thread rose by 200 yuan / ton, and the price of steel futures also rose, and the average rise was higher than that of spot. In the near future, the prudent balance of steel prices around the market is likely to be broken by the rapidly changing inventory data. The rise in steel prices this week indicates that steel prices are expected to advance ahead of schedule.
The effect of the delayed end of the polluted weather this week was delayed by 50% of the steel mills in Tangshan to June 3rd. The national development and Reform Commission reported that 3 enterprises in Ningxia, Shaanxi and Jiangxi related to illegal new production capacity, and the relevant responsible people were seriously accountable, and the state's control of the iron and steel supply side was still severe. These have further support for the recent price of steel.
The PMI in May was 51.9%, higher than last month's 0.5 percentage points, the highest since October 2017, and is expected to dilute the market's pessimistic outlook for the second half of the second half of the year. This week, although the iron and steel plate fell round, but compared with other plates in the middle reaches, and some of the high bonus shares rose before, the value of steel shares is emerging, its valuation advantage is further highlighted. We believe that the views of the market on Steel shares are expected to follow the rise in steel prices, and suggest increasing the undervalued steel. Iron shares.
 
 
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