On February 28, the spot price of iron ore at Qingdao Port also rose slightly. 61% of PB fines rose 10 to 860 yuan/ton, 58% of Australian fines rose 10 to 755 yuan/ton, and 62.5% of Pakistan fines rose 10 to 995 yuan. / ton, 65% PB powder rose 10 to close at 1125 yuan / ton; Tianjin port iron ore spot price stopped falling and rebounded, 61% PB powder ore rose 10 to 875 yuan / ton, PB lump ore rose 10 to 1140 yuan / ton, 62.5% Pakistani powder rose 10 to 980 yuan / ton, 65% Pakistani powder rose 10 to 1120 yuan / ton.

Analyst’s point of view: The price of iron ore has stopped falling and rebounded, and the timeliness of policy influence has weakened, indicating that the market’s bearish mentality has eased. Iron ore prices rebounded, which supported steel prices slightly, which was good for short-term and medium-term steel prices.

Steel prices rose today

Among the 24 rebar markets, 8 rose 10-50, 4 fell 20-50, and the average price of 20mmHRB400E was 4850 yuan/ton, down 2 yuan/ton from the previous trading day;

Among the 24 hot coil markets, 21 rose by 10-50, and the average price of 4.75 hot-rolled coil was 4,997 yuan/ton, an increase of 27 yuan/ton from the previous trading day;

Among the 23 medium and heavy plate markets, 9 rose by 10-40, and 1 fell by 10. The average price of 14-20mm common medium plate was 5,153 yuan/ton, an increase of 4 yuan/ton from the previous trading day.

Steel futures rose as a whole today

Today, the main thread futures rose 90 to 4693, an increase of 1.96%; the main hot coil rose 169 to 4952, an increase of 3.53%; the main coking coal rose 29.5 to 2614.5, an increase of 1.14%; the main coke rose 6 to 3296.5, an increase of 0.18% ; The main iron ore rose 18.5 to close at 705.5, an increase of 2.69%.

Tomorrow’s steel price forecast:

In terms of supply and demand: the impact of limited production, the reduction of steel supply, the market has entered the traditional gold three silver four, the demand will gradually open up, the supply and demand will drop by one liter or will cause the steel price to rise. In terms of policies: Since last week, individual cities began to respond to the call of the state and adopted local policies to reduce the down payment ratio, and now it is gradually spreading to the whole country. In addition, the easing of housing loan supporting policies has accelerated the destocking of real estate, thereby promoting the real estate market in individual markets. demand, driving raw material procurement in the medium and long term. In terms of cost: iron ore prices began to rebound after a period of decline, and the prices of Tianjin Port and Qingdao Port have both increased by 10 yuan. Therefore, steel prices are expected to rise slightly tomorrow.