The Overall Macro Policy Environment is Positive and Boosted, but We Still Need to Face the Problem of Weak Demand for Nickel Alloy Seamless Pipes in the Off-season

At the beginning of the month, after the price of S31254 Inconel600, hastelloyC276, Monel400, incoloy800H seamless pipes that had been suppressed for a long time rebounded slightly, the market entered a shock adjustment again. The recovery of the global economy is slow, and the situation in many places has affected travel and consumer demand. The output of steel and coal has risen rapidly, while the implementation of infrastructure investment and the weakening of real estate investment have been suppressed. The oversupply situation in the market has not improved. Later, S31254 Inconel600 , HastelloyC276, Monel400, incoloy800H seamless pipe price trend?


S31254 Inconel600, hastelloyC276, Monel400, incoloy800H seamless pipe market factors

1. Export steel prices increased in October
From the customs data, it can be seen that in October, my country's export of steel increased by 200,000 tons and imported steel decreased by 119,000 tons, showing a trend of more exports and less imports, but the increase was not large. The overall domestic S31254 Inconel600, hastelloyC276, Monel400, incoloy800H seamless Pipe market supply has been reduced. In addition, the traditional consumption slack season is approaching, and the scope of losses of steel enterprises has expanded, and the production and maintenance of steel enterprises has increased, and the market supply may continue to decline. Businesses are worried about the difficulty of ordering, and some begin to replenish the inventory. In the short term, S31254 Inconel600, hastelloyC276, Monel400, and incoloy800H are seamless Tube prices will not drop significantly.

2. The transaction in the property market has declined, which is bad for steel prices
According to data released by the China Index Research Institute, last week's property market transactions fell year-on-year. In terms of cities, the first-, second- and third-tier cities all declined month-on-month, with the first-tier cities seeing a smaller decline.
The property market is an important pillar of the people's livelihood economy, and the state insists on "living only and not speculating". Although real estate financing has been relaxed, most real estate funds are difficult to turn around, and the overall environment is sluggish, capital investment expectations are poor, and real estate companies are not very motivated to acquire land. At the same time, the development of real estate-related industries is slow. Coupled with the repeated epidemics, stricter closures and controls in many places, the transaction volume of the property market continues to decline, and construction projects are blocked.

3. Global manufacturing is down again
The China Federation of Logistics and Purchasing announced on November 6 the global manufacturing purchasing managers' index for October. The global manufacturing purchasing managers' index fell below 50% again after several months, which means that the global economic contraction pressure has increased. In October, the global manufacturing purchasing managers' index was 49.4%, a decrease of 0.9 percentage points from the previous month.
The global economy is sluggish, and the manufacturing industry is facing continuous contractionary pressure, and there are signs of further intensification. Many domestic departments have introduced a package of policies to stabilize growth and stabilize credit policies to support new credit. Entering the fourth quarter, increasing credit support is still the key point. It is expected that monetary policy will continue to promote credit easing, and promote new credit to maintain a year-on-year growth momentum. Steady growth provides a suitable monetary and financial environment and stimulates the recovery and development of the manufacturing industry. However, before that, the manufacturing industry is still sluggish and the demand for it is weakened, which is bad for the price trend of S31254 Inconel600, hastelloyC276, Monel400, incoloy800H seamless pipes.

Steel price forecast
At present, the recovery of the global economy is slow. With the Fed raising interest rates by 75 basis points, the European Central Bank is still expected to raise interest rates, resisting inflation and weakening capital investment. The domestic epidemic has spread in many places. The National Development and Reform Commission has further improved the policy environment and stepped up efforts to support the development of private investment, encourage more innovation-driven development, and stimulate investment growth. The overall macro policy environment is favorable and boosted, but it has to face the reality of weak demand in the off-season. The problem, although the weather in the north is getting cooler, there are cases of rushing the construction period, and the terminal just needs to purchase more, but the merchants are bearish about the later expectations, and they are cautious about replenishing the inventory, and most of them wait and see. The price of seam pipe is stable and falling.

Post time: Nov-10-2022