The contradiction between the downstream demand for hydraulic props and the continued sluggish supply is still very sharp.

The contradiction between the downstream demand for hydraulic props and the continued sluggish supply is still very sharp. In addition, it is expected that other leading steel mills such as Angang will follow the footsteps of Baosteel and Wuhan Iron and Steel, and the probability of continuing to cut the ex-factory price in September is very high, so we expect the domestic price of “Golden September and Silver 10”. A sharp rise is not realistic.
Since the beginning of this year, the global economy has remained sluggish, domestic economic data is not optimistic, the downstream demand for hydraulic props continues to be sluggish, and the daily output of crude steel remains high. The domestic steel market has fallen significantly since mid-April, and the prices of major varieties have fallen below 2010. The annual low reached a new low in three years. There is still no clear stop signal. Although there is still some distance from the bottom price during the 2008 financial crisis, the market panic is getting stronger and the paradox of 'recurrence of financial crisis' is gradually increasing. So is domestic steel and raw material prices going to a low in 2008-09? The author tries to do comparative analysis and is for reference only.

Although steel mills have reduced production, the amount of reduction is negligible. According to a survey by Lange Steel , the blast furnaces that stopped production in August did increase. However, the average daily output decline is only equivalent to a total reduction of more than 500,000 tons, and the contradiction of oversupply is still very sharp.

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