According to statistics, crude steel output in China in June fell by 3.3% year on year, and steel output dropped by 2.3% year on year.

In June, the demand for steel downstream industries and automobile steel improved, and infrastructure construction extended, but construction machinery in the real estate chain and home appliance industries continued to slump.

In terms of exports, although the economies of Europe and the US are facing downward pressure, the industrial production index in Southeast Asia is still healthy, and it was expected that subsequent steel exports will recover gradually.

In addition, the consumption volume of rebar in China increased while the supply decreased in the past week, and the consumption and supply of hot-rolled coil (HRC) and cold-rolled coil (CRC) both decreased. If the downstream industry can continue to stabilize, coupled with an active reduction of production, it was expected to improve the supply and demand trend.