With the implementation of more micro-stimulus measures, the real economy has been picking up; as the country’s various supporting policies and measures to support micro-stimulus are implemented, and the "plum rain" has gradually weakened since July, the number of fine and fine weather has increased. The downstream industries of the steel pipe market are already gearing up for large-scale preparations. In addition, the market for raw materials such as nickel-iron-nickel ore has also fallen to a staged low, and the cost has fluctuated at the bottom, and the continued fall will not be too large.

　　Affected by the rainy weather in mid-to-late June, terminal purchases have been declining. However, in the off-season, steel mills have increased production against the market, and high production has become the norm. So after June, when supply is strong and demand is weak, and July is welcoming, can the steel market change? Here is a simple analysis: From a macro perspective, China’s official manufacturing PMI for June announced at the beginning of the month rose to 51.0 (51.0%), which is the fourth consecutive month of recovery; expected 51.0, previous value 50.8. It shows that the manufacturing industry has continued its good momentum of steady growth. The expected index of new orders, production, and new import and export orders has rebounded significantly. Among them, the production index was 53.0%, an increase of 0.2 percentage points from the previous month, and rebounded for two consecutive months; the new export order index was 50.3%, an increase of 1.0 percentage points from the previous month, which greatly eased the domestic demand caused by weak demand. The supply pressure. From the perspective of steel mills, due to the increase in their own profits and other factors, the daily crude steel output of the company in mid-June was 1.8367 million tons, an increase of 4,100 tons, a month-on-month increase of 0.22%; in mid-June, statistics of alloy steel pipe companies were at the end of the month. The stock was 15.113 million tons, no increase of 583,100 tons from the previous ten-day period, a 4.01% increase from the previous month. If steel mills do not reduce production more aggressively this month, the continuous rebound of crude steel will cause resistance to the rebound in steel prices. In terms of inventory, according to new data, as of last weekend, the total national steel inventory was 13.435700 tons, a decrease of 120,400 tons on a week-on-week basis, and a decrease of 1,322,600 tons from the previous month. Among them, the rebar is 6.053 million tons; the wire rod is 1.4063 million tons; the hot-rolled 3,157,800 tons; the medium and heavy plate is 1,334,800 tons; the cold-rolled 1,482,900 tons. The social stock of steel has fallen for 17 consecutive weeks, and the stock specifications in many places have been incomplete. The supporting effect of low stocks on steel prices may begin to appear.