Steel futures on Wednesday were weak and volatile. In the spot market, 82,000 tons of steel were traded yesterday. The price of steel billets in Tangshan was 2,950 yuan per ton (unchanged), the price of rebar in Shanghai was 3,230 yuan per ton (-10 yuan), and the price of hot-rolled coil in Shanghai was 3,340 yuan per ton (-10 yuan). A survey of construction site operations in the Beijing-Tianjin-Hebei region shows that a total of 66 traders, secondary terminals and downstream enterprises were shut down from late August to September 4th. It is expected that enterprises will resume operations in the afternoon of September 3rd and on September 4th.

 As enterprises in the Beijing-Tianjin-Hebei region resume work one after another and most steel mills resume production, both supply and demand increase. Attention should be paid to the strength of the recovery in demand. In the afternoon, Mysteel released weekly data. Due to the impact of the military parade, it is expected that the supply and demand data of steel will be weak and inventories may continue to increase. In the short term, the market is expected to be weak and look for support, and the futures price is expected to fluctuate.

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