Domestic spot steel market was weak and steel prices fell slightly. The transaction in the steel market was weak when the price was relatively high, and it was heavy when the price was relatively low. The iron ore market is generally shocking consolidation.

According to the latest market report provided by the domestic iron and steel information agency, the domestic spot steel price index closed at 151.34 points in the most recent week and fell 0.96% in the week. Overall, the steel market was weakly operating. When the market was low, the transaction volume was heavy. The weak market sentiment is due in part to the fall in steel futures and the impact of overcast and rainy weather in some parts of the country. However, the rigid demand of the steel market is still relatively stable, and the inventory level of various varieties of the market continues to decline.

According to analysis, prices oscillate in the construction steel market. The average price of rebar grades in major markets across the country is 4065 yuan per ton, down 76 yuan per week.

In the sheet metal market, prices have generally declined. The prices of hot-rolled coils were first suppressed and then increased. The average market price of hot-rolled products in major markets across the country was 4,228 yuan per ton, which fell by 7 yuan per week. The overall plate price has slightly weakened. The average price of mainstream specifications in major markets across the country is 4,408 yuan per ton, which is down 11 yuan per week.

The iron ore market fluctuates from top to bottom, showing a general consolidation. According to the latest report from the agency, in the domestic ore market, domestic prices of iron concentrates generally continued to stably in May. Domestic steel companies enjoyed a relatively good profitability, and the continuous rise in the operating rate of blast furnaces led to an increase in domestic mine demand. The price of imported ore rose first and then fell. On the 24th, the price of 62% grade imported ore was closed at US$65.15 per ton.

The analysis of relevant institutions believes that in May, the purchasing demand of end users in domestic steel cities was generally acceptable. The production of some steel enterprises was limited due to environmental protection factors, and the social spot inventory decreased for 11 consecutive weeks. However, a considerable number of merchants profitably cashed out after the rise in steel prices, and the domestic steel price has recently experienced a certain degree of decline, which has made the future steel price risk released to some extent.