Ministry Of Industry And Information Technology Takes Action

The Department of Raw Materials Industry of the Ministry of Industry and Information Technology held a working meeting on stabilizing growth and increasing efficiency of steel production enterprises, and planned to formulate relevant policies to better promote the stable development of the steel industry, which will provide a certain boost to market sentiment. In addition, the first symposium on large-scale equipment renewal and consumer goods trade-in was held today, and more policies have been implemented to boost investment confidence in the steel market and expand the release of speculative demand, which is expected to boost the overall demand for steel. In terms of industry news, according to incomplete statistics, as of April 2, 2024, 16 regions across the country have released a list of construction projects in 2024, including 118 projects related to the steel industry, which will drive an increase in downstream steel demand and benefit steel products. price.

April 2nd, the futures market for rebar held red and fluctuated. It generally opened high and fluctuated in the early trading, and then rose strongly in the afternoon. The rebar closed at 3,506 yuan/ton, and finally rose back to above 3,500. Hot coil prices increased by nearly 3%, closing at 3,506 yuan/ton. Iron ore rose by 3.09% to close at 768 yuan/ton.

At present, the macroeconomic policy is relatively clear, but the recovery of real estate is not good, and the price rebound of building materials is limited; the manufacturing PMI is in the expansion range, and the industrial rolling plate category has a greater driving effect. With the Tomb-Sweeping Day holiday approaching, terminal projects are in urgent need of replenishment, and market transactions are Increase the volume and drive the sentiment of market merchants. Recently, various varieties have become seriously differentiated, demand performance is unstable, and market sentiment remains cautious despite optimism.