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Lun nickel rose, of which Lun nickel opened at $21,120 / ton, the highest price to $21,350 / ton before the deadline, 304 stainless steel futures 2307 main rose 150 yuan/ton, the highest price to near 15385. 201 cold rolled stainless steel roll fell, the mainstream base price Xinsuju reported 9,100 yuan/ton, the market reported 9,350 yuan/ton, 201 hot rolled stainless steel plate mainstream base price reported 9,100 yuan/ton. 304 cold rolled stainless steel coil small rise, of which the main price of the Jiujiang steel market is 16,000 yuan/ton, the price of Shandong is 16,000 yuan/ton, and the Mountain Steel is near 15,800 yuan/ton. Xinsuju Resource prices are flat. Hot rolled stainless steel coil market rose, of which Shandong reported 14,750 yuan/ton, Xinsuju spot resources 14,700 yuan/ton, Foshan resources 14,750 yuan/ton. Futures continue to float red, today's opening 300 series to raise the price, 316L stainless steel roll fell, most merchants on the spot market adhere to the price, but the transaction is still in a relatively rigid, flexible adjustment, price fluctuates.

1. Oecd: High inflation will increase global GDP by only 2.7% this year The global economy will recover slowly from the shock of the pandemic and the Russia-Ukraine conflict, the OECD said, while remaining plagued by persistent inflation and restrictive policies by major central banks seeking to contain inflationary pressures. According to the organization's latest Economic Outlook, global output will grow by 2.7% this year and only marginally by 2.9% in 2024, both below the 3.4% average of the seven years before the pandemic. It is worth mentioning that the recovery in the United States and the eurozone will also be relatively slow, and inflation will be stronger than in 2019. 2. In the first five months, China's export growth rate fell back to the United States and continued to decline Data for the first five months of this year show that trade between China and the United States, the country's third largest trading partner, continued to contract: the total value of bilateral imports and exports in the first five months was 1.89 trillion yuan, down 5.5 percent, accounting for 11.3 percent. Among them, the export to the United States was 1.38 trillion yuan, down 8.5 percent; 508.29 billion yuan of imports from the United States, up 3.9%; Its trade surplus with the US was 870.57 billion yuan, down 14.5%. Compared with the data of the previous four months, the proportion of China's total trade with the United States increased slightly, and the decline in exports expanded while imports continued to grow, which also led to the narrowing of the trade surplus with the United States. Gains in metals were capped by weak U.S. economic data that continued concerns about economic growth. Lun nickel oscillations, the end continued to pull up, overnight up 550 close 21505. Under the influence of nickel, stainless steel pipe futures rose 45 to close at $15,225 / ton, and the current downstream demand is still weak, and under the stimulus of rising prices, there are some replenishment demand releases in the trade link. Yesterday, 304 stainless steel plate with spot directly opened, the offer again at 15000 yuan/ton, spot only rose slightly but reflects the determination of the market spot to stick to 15000 yuan/ton integer mark, but only the rising heart is difficult to support, and returned to the past price after noon. The mainstream price of 304 cold-rolled stainless steel plate market is 14800-15000 base, and the price of 304 hot-rolled stainless steel plate is near 14650-14750 yuan/ton; 201 Cold-rolled j1 stainless steel plate walks near 9150-9250, and hot-rolled stainless steel plate walks at 8800-8900 yuan/ton.

Construction steel: On June 5, the average price of 20mm three-level seismic rebar in 31 major cities in the country was 3808 yuan/ton, up 76 yuan/ton from the previous trading day. In the early trading period, the spiral high operation, the price of domestic construction steel followed the positive rise. From the transaction point of view, because the price rose too fast, downstream users wait-and-see sentiment is strong, the overall trading performance is lukewarm, some businesses dark afternoon shipments. Hot rolled coil: On June 5, the average price of 4.75mm hot rolled coil in 24 major cities in the country was 3884 yuan/ton, up 76 yuan/ton from the previous trading day. The news of the implementation of environmental protection restrictions in Tangshan over the weekend continued to boost the steel market, and steel prices in major markets across the country rose sharply, but seasonal pressure on demand gradually became prominent. Cold-rolled coil: On June 5, the average price of 1.0mm cold coil in 24 major cities in the country was 4455 yuan/ton, up 47 yuan/ton from the previous trading day. On the 5th, black commodity futures fluctuated strongly, and spot prices around the world continued to increase from last week. From the market understanding of the situation, traders operate more optimistic, some of the market general materials are tight, there are reluctant to sell. Carbon steel pipe: this week, hot-dip galvanized steel pipe, galvanized round pipe, galvanized square pipe, welded steel pipe, rectangular pipe, etc. Although the traditional demand in June into the off-season, but the market demand or still have a good performance, the apparent demand for steel or no significant weakening. In particular, the introduction of stimulus policies by the state is expected to increase, the depressed market sentiment has been boosted, the demand for low-price trade speculation has increased, and the low-cost procurement of terminal demand has increased. From the supply side, the recent steel prices have rebounded, ore prices have risen, and the decline in coke prices has slowed down. The loss of steel enterprises has narrowed, the power of steel enterprises to reduce production has weakened, the production line has been reduced in a wide range, the production is expected to weaken, and the overall steel production or performance is stable. The social inventory and total inventory of major varieties will continue to decline. At present, the production line of steel enterprises is not enough to stop production, the actual supply of market resources is difficult to reduce, the steel market supply is greater than the expected concerns continue to exist, the market does not have the conditions for prices to rise sharply, and the space for spot prices to rise will be inhibited.

Today's steel market overall small rise mainly, rising market more than a day. From the variety, it is still galvanized steel pipe slightly stronger than hot coil, hot galvanized steel pipe more than 10-20 yuan, a few markets up to 30 yuan. Although the range is not large, but the market atmosphere is better, the price increase is universal, although the welded steel pipe market increased less, but some markets also have 10-20 yuan. Stainless steel tube, cold rolled plate, galvanized coil is relatively lagging, mainly stable, is expected to have a small increase tomorrow and the day after tomorrow. In addition, Shandong billet spot price rose 50 yuan, with the plate change faster. On the whole, the steel market transaction has improved to a certain extent, whether it is intermediate trading or terminal to take goods, there is a certain increment, some large households with relatively large inventory, still mainly to ship. Spot market shows a few gradually good factors, on the one hand, Shandong and other steel inventory resources, after a lot of early selling has fallen a lot; On the other hand, the purchasing demand for building materials in East China has improved, which has obviously improved since the middle of May. It is still necessary to further observe the subsequent transaction status. In addition, has been bearish cost downward pessimistic expectations, also have a certain improvement Steel mills are also actively raising prices these two days. Today, some steel mills actively raise prices, and even continue to raise 10-20 yuan in the second price adjustment, and some steel mills receive very good orders. But with the rapid rise of raw materials, steel mills fill the raw material action has also accelerated, which also strengthened the short-term raw material decline resistance. Iron ore gains in recent days, may further suppress steel mills profit return. It should be noted that the current market rebound upward repair, and macro and fundamental relationship is not big, funds and sentiment to promote futures to drive spot components. Need to continue to pay attention to the rebound after the change of bearish factors.

[ Macro News ] 1. Fed: Business demand for credit weakens Banks reported tighter credit standards and weaker demand for commercial and industrial loans in the first quarter, the Fed said, continuing a trend that began before recent stress in the banking sector. Data from a Fed survey of credit officers released Monday showed that the percentage of banks tightening lending conditions for large and medium-sized companies rose to 46% from 44.8% in the fourth quarter of 2022. The failure of four regional U.S. banks since March has sparked turmoil in the financial sector and heightened fears that banks will restrict access to credit, potentially tipping the U.S. economy into recession. 2. The rain in South China is still frequent in the near future The State General Office of Prevention, the Department of Emergency Management recently discussed that, at present, the south of China has been fully into the flood, next, heavy rainfall may continue to happen, rivers will continue to rise, flood control situation further tightening. China's National Meteorological Center expects more frequent precipitation in southern China this week. [ Futures express ] The London Stock Exchange will be closed on Monday for the coronation of King Charles III. In the short term stainless steel plate roll deviation shock adjustment mainly. 316 stainless steel coil futures up 50 closed $15525 / ton, 304 stainless steel spot market price atmosphere strong, but the demand has not been significantly better, partial finishing in the short term. [Shandong market] 316L stainless steel futures shocks throughout the day, the spot market performance is strong, no matter how the futures, spot also seems to follow the rise does not follow down, superposition after May Day 304L stainless steel prices are always strong, prompted the downstream short replenishstock, the market appears a better transaction situation.

Lun nickel rose, including Lun nickel opened at $24,685 / ton, the highest price to $24,975 / ton before the deadline, stainless steel tube futures 2305 main rose 190 yuan/ton, the highest price to near 15605. 201 cold rolled stainless steel rose, the mainstream base price resource reported 9400 yuan/ton, Xinsuju steel reported 9500 yuan/ton, hot rolled stainless steel plate mainstream base price reported 9300 yuan/ton. 304 cold rolled stainless steel roll small rise, which Shandong market mainstream price at 16300 yuan/ton, Liaocheng price at 16350 yuan/ton, Xinsuju steel near 16100 yuan/ton. The price of private resources rose, including Tianjin Resources near 15,750 yuan/ton, Jiangsu Resources reported near 15,650 yuan/ton base price. Hot rolled stainless steel plate market rise, which East special 15150 yuan/ton, Chengde spot resources 15150 yuan/ton, Foshan resources 15150 yuan/ton near. On the first trading day after the festival, the futures end temporarily drifted red rhythm, the spot market ushered in a small rise, merchants have a strong willingness to price, continue to ship.

According to the customs data statistics: in March 2023, domestic stainless steel plate imports of about 123,300 tons (hit a new low since April 2020), a month-on-month reduction of 34.1%; The year-on-year decrease was 48.6 percent. From January to March in 2023, the cumulative volume was about 461,000 tons, a year-on-year decrease of 483,900 tons, or 51.22%. In March 2023, the domestic export volume of stainless steel plate was about 349,400 tons, an increase of 38.15% from the previous month; The year-on-year decrease was 7.99 percent. From January to March in 2023, the cumulative volume of stainless steel roll is about 967,200 tons, a year-on-year reduction of 94,900 tons, a reduction of 8.94%. In March 2023, the net export of domestic stainless steel coil was about 226,100 tons, with a month-on-month increase of 244.3% and a year-on-year increase of 61.7%. From January to March in 2023, the cumulative net export of stainless steel pipe is about 506,300 tons, an increase of 389,000 tons, an increase of 331.7%. The export increase was mainly reflected in the cold-rolled coil with width ≥600mm, which increased 54,900 tons from the previous month, with an increase of 49.1%. In addition to the volume of hot rolled coil slightly decreased 0.7 million tons, other varieties of exports are increasing. The main reasons are as follows: First, from January to March, the price of 316L stainless steel pipe continues to decline, and the price difference between inside and outside is large; In March 2023, the export volume of the top ten regions in the Chinese mainland was about 234,800 tons, accounting for about 67.2%. From January to March, the cumulative volume was about 656,600 tons, accounting for about 67.89%. In March, exports of 304L stainless steel to many places increased. Among them, exports to Korea and India gradually recovered after dropping in February, and exports to Vietnam increased for two consecutive months. Among them, South Korea became the largest exporter of stainless steel, with 135,800 tons exported to South Korea from January to March, an increase of 62% year-on-year. Second, the import of 304 stainless steel hit a three-year low in March, mainly from Indonesia import significantly reduced. According to customs data, in March domestic 316 stainless steel imports from Indonesia 90,500 tons, a month-on-month reduction of 39.62%, a year-on-year reduction of 53.44%. Among them, wide-width cold rolled and semi-finished products (most of them are billets) have the most obvious reduction. Indonesia Delong Steel was overhauled in mid-January and resumed production in late March, leading to a continuous decline in domestic semi-finished product imports. Imports of semi-manufactured goods will gradually recover in April as production resumes.

From April 18 to 20, the sixth Xiongan Pipe Fittings and Pump Valve Exhibition and Xiongan Urban Construction and Green Building Expo was held in Xiongan. More than 300 benchmarking enterprises participated in the expo. After years of construction, the Xiongan New Area has entered a new stage of development. As a leading enterprise in the steel pipe industry, at the beginning of the construction of Xiongan New Area, Xinsuju Steel Group has been actively involved in the construction of the new area, providing strong support for the "quality of Xiongan" with green and high-quality steel pipe products, and making continuous contribution to the high-quality development of Xiongan New Area in the new era. In this expo, Xinsuju Steel Group with straight welded pipe, hot galvanized steel pipe, square rectangular steel pipe, hot galvanized square rectangular steel pipe, lined plastic composite steel pipe, coated plastic composite steel pipe, spiral welded pipe, stainless steel pipe, coil buckle scaffold pipe, stainless steel pipe and pipe fittings, pipe fittings and other steel pipe industry products appeared in the expo. With innovative products, excellent product quality and excellent supply chain services to arouse wide attention, praise such as tide, some users reached preliminary cooperation intention on the spot.

On April 11th, the establishment conference of Shandong Aluminum Pipe industry technology innovation Strategic Alliance was held. In his speech, he said that the county will actively create a high-quality business environment, comprehensively strengthen the lead of aluminum pipe industry technology innovation strategic alliance, continue to extend the upstream and downstream chain of aluminum pipe industry, and strive to build the aluminum processing center in northwest Shandong. Strive to 2023 aluminum pipe and processing industry production capacity of 800,000 tons, output value of more than 14 billion yuan. By 2025, aluminum smelting and aluminum processing capacity will reach 1.2 million tons, and aluminum pipe industry sales revenue will exceed 16 billion yuan.

Given the key role of copper wire in the development of clean energy technology, demand for copper is expected to grow significantly. Economic and environmental professionals from the International Copper Wire Research Organization spoke about copper's prospects in the energy transition and opportunities in Latin America. Copper is crucial in the production of wind turbines. A megawatt of electricity produced by a wind turbine requires at least five tonnes of copper wire to produce the turbine and connect it to the grid. The second important use is copper foil for lithium-ion batteries. China is adding new aluminum foil capacity, using about 700,000 tons of copper, and Xinsuju Steel Copper Wire is also starting to enter the market. The surge in demand for copper will begin in the second half of this decade and continue for several years.

The supply and demand of hot-dip galvanized steel pipe tend to be loose, the cost center of gravity shift down and the merchant's expectations are the main reasons for the steel price decline. On the supply side, the average daily crude steel of key steel enterprises in the second half of March was 2.261 million tons, with a month-on-month increase of 0.34%. The blast furnace operation rate surveyed by XINSUJU continued to rise, and resource supply pressure increased. In terms of demand, the downstream data are generally bearish. The manufacturing PMI released by National Bureau of Statistics and Caixin all fell compared with last month, indicating a decline in prosperity. The trading volume of main steel products fell significantly month-on-month, and the decline in steel inventories slowed down significantly. In terms of cost, the price of imported ore dropped by $7.50 to $118 / ton compared with the end of last week, the price of coke was relatively weak, the downward pressure increased, and the production cost of galvanized steel pipe moved down. Steel mills may limit production to stimulate the news, futures prices rebounded over the weekend, some market spot prices stabilized recovery. Expected this week (2023.4.10-4.14) the domestic steel market is expected to stabilize and recover. Focus on steel production, market transactions and inventory changes.