The International steel market is expected to turn better In June

Although the coronavirus epidemic still plagues the global economy, in May, driven by the strong momentum of demand recovery in the Chinese market, the global steel market ended its overall decline in May, and some markets began to rise.

In Europe, the demand downturn and high inventory pressure remain unchanged. The European steel market continued to decline in May to explore the bottom. Considering the support of cost pressure, it is expected that the European market will reach the bottom and stabilize after the decline in May. In North American steel market, after the continuous decline, the falling space is exhausted. In addition, the production reduction policy of American steel mills has a positive impact on the market. In May, American steel mills started the first round of price adjustment after the long-term decline. This round of steel price adjustment is about $40, mainly focusing on flat steel products. In Asian steel market, China's domestic market rebounded strongly in May, and the domestic comprehensive price level rose 5% month on month. India, Vietnam and other markets have also seen price recovery of some varieties.

On the whole, the international steel market has "warmed up" in May, and it is expected that the global steel market will continue to evolve well in June.