On Wednesday, steel futures fluctuated. In the spot market, yesterday's spot transaction volume was 86,000 tons. The price of pig iron in Tangshan was 2,980 yuan (-10) per ton, the quoted price of rebar in Shanghai was 3,230 yuan (-10) per ton, and the price of hot rolled steel in Shanghai was 3,290 yuan (-10) per ton. The China Iron and Steel Association: In mid-March, the average daily output of key statistical steel enterprises was 2,027,000 tons, with a month-on-month increase of 0.8%; the steel inventory was 17.91 million tons, with a month-on-month increase of 0.6%, a decrease of 1.2% compared to the same period last month, and an increase of 5.9% compared to the same period last year.

Fundamentally, pay attention to the steel industry data released in the afternoon. It is expected that steel production and apparent demand will continue to rise, while inventory reduction may increase. This year, terminal demand has continued to recover, the decline in real estate investment has narrowed, infrastructure investment remains at a high level, and manufacturing and export performances are strong. It is expected that steel prices will show a slightly stronger fluctuating trend, and the focus should be on the realization of demand.

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