Recently, the effect of economic stabilization policies has continued to appear, and the overall economic operation has shown a trend of stabilization and recovery. As steel consumption enters the peak season, market demand has rebounded. Last week, steel continued to go to the warehouse, and the prices of eight major varieties of steel maintained an upward trend. The supply side continued to recover, and the operating rate of blast furnaces and the output of hot metal per day continued to increase month-on-month. In terms of raw fuels, coke prices remained stable and scrap rose slightly. On the macro side, the central bank's decision to cut the reserve requirement ratio to boost market confidence has a certain supporting effect on steel prices, but the room for improvement is limited. Combined with the weakening of demand caused by foreign interest rate hikes and financial risk transmission, on the whole, steel prices in the short term are mainly volatile.

In the first week after the Spring Festival, the operating rate of blast furnaces and electric furnaces increased slightly, and the output of steel varieties such as rebar rebounded at a low level. Because the terminal demand has not yet started, the volume of trading volume has recovered slowly, and the social inventory of steel and the inventory of steel mills have increased significantly. In addition, the continuous decline in steel futures prices has had a certain impact on spot prices, and the spot prices of steel have risen first and then fallen, but as a whole they still continue to rise slightly. In terms of raw fuels, the relevant departments have not reduced the supervision of iron ore prices; Scrap resources are relatively tight, and prices are still running at a high level; The coke steel game is fierce, and the steel mills and coke enterprises are rising simultaneously. With the return of workers to work after the Lantern Festival, the progress of the resumption of work will be accelerated, which will drive the gradual improvement of steel consumption. At the same time, considering factors such as continued high production costs and pressure on steel mill profits, it is expected that the short-term steel price correction will not be strong.