Steel inventory of key steel enterprises in China fell 4.01% month on month in late February

According to big data statistics, in late February 2020, the average daily output of crude steel of key steel enterprises was 1.8074 million tons, with a decrease of 27500 tons or 1.5% on a ten day to month basis. In the last ten days of February, the steel inventory of key iron and steel enterprises was 2048.47 tons, with a decrease of 856800 tons or 4.01% on a ten day to month basis.

Since last week, the steel manufacturers' direct supply work volume has obviously rebounded. Up to now, the steel production and investment have reached a relative balance.

Prediction: the steel market is stable and tends to be strong, the market mentality is acceptable, and the short-term ore price is expected to be mainly narrow range consolidation.