API 5L grade X60 PSL1 steel prices are still not out of the shock range

After the continuous weakness, the API 5L grade X60 PSL1 steel market's inter-regional shock mode reopened on August 27. According to the news, the production restriction in Tangshan was finally settled, and the Tangshan City Government took stricter measures to suspend production and restriction on steel companies from 10:00 to 22:00 on August 28. The characteristics of bullish plates and bearish raw materials have appeared, leading to the diving market of raw material futures such as iron ore and coke today. The price of API 5L grade X60 PSL1 steel plates is going retrograde. In addition, the second round of the 2th central ecological and environmental protection inspections will be fully launched.

However, from the current point of view, Tangshan limited production is mainly based on sintering, not involving blast furnaces, and some of the steel plants have recently been routinely shut down for maintenance, and the limited production time is only one day. Therefore, the overall limited production impact of API 5L grade X60 PSL1 steel is not very large, and the short-term is more emotional disturbance, and the follow-up situation needs to be tracked.

Judging from the overall operation of the current market, the price of API 5L grade X60 PSL1 steel has a demand for rebound after falling, but there is no more support for sustainability, so it still has not left the shock range.