1. The imbalance between supply and demand will remain.

After the implementation of production reduction measures such as less scrap in converters, rolling line maintenance, and postponed resumption of electric furnaces, the supply reduction may be temporarily suspended.

According to estimates, steel demand under optimistic conditions will not exceed 2019 until late April.

2. There are obvious signs of the second bottom of steel prices.

At present, the market is almost not activated, and once spot trading starts normally, considering the pressure of funds under the huge inventory, selling at low prices may be mainstream.

3. It is time to test the profit ability

The pressure of making profit not only comes from the bottom of steel prices, but also from the capital occupation cost derived from the accumulation of inventory.

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