The domestic stainless steel strip market trend is obviously stronger than that of steel, especially the relatively strong performance of imported mines, and the call for price increases of coke has been high. However, as steel prices gradually approached the marginal cost of steel mills, the purchasing enthusiasm of steel mills weakened. After the second half of the month, the trend of the raw material market began to weaken, billet and scrap fell relatively sharply, and the prices of imported iron ore and coke also eased at the end of the month. Due to the sluggish demand in the steel market during the off-season, steel prices have also been declining. Steel mills have reduced production and increased maintenance, which has a greater impact on the prices of raw materials. In fact, the prices of raw materials are still stable except for iron ore. Both have fallen sharply. If scrap steel has fallen below 1,100 yuan/ton, people can't help but ask, what is going on with iron ore? Is the market going up or down in the later period? I personally believe that both national policies and business hype will only affect market prices for a period of time, unless the country continues to introduce major stimulus policies, and the relationship between supply and demand is the ultimate determinant of market prices. Then let me briefly analyze the supply and demand of iron ore. The domestic ore market remained consolidating, market participation was relatively limited, and transactions remained low. The recent weakening of the external market has caused steel mills to become more bearish; steel mills have increased their maintenance efforts, market demand has begun to weaken, and the overall mine shipments are generally pessimistic about the later market; port inventories have further declined and futures are still in Relatively high, the market mentality of traders is quite different, and the willingness to ship at low prices is not big. The market is in the midst of long-short competition in the later stage. Mine prices in North China are in consolidation and market transactions are relatively limited, and merchants’ wait-and-see sentiment is further aggravated. Futures on the imported ore market fell slightly, the quotations of traders in the spot market were basically flat, and the market activity was not high. At present, spot resources are concentrated in the hands of a small number of large traders, who have a high price attitude and are more willing to settle in RMB after landing. Steel mills with relatively tight inventories can only take more goods at ports. Due to the rapid increase in the price of external ore in recent times, some steel mills appropriately increased the ratio of internal ore in June. The price of domestic ore rose slightly in the first and middle ten days. Some domestic large mines including Hanxing Bureau and Jinling successively increased their prices 15 -30 yuan/ton. After the second half of the year, as the decline in steel prices accelerates, steel mills are less active in purchasing, and the purchase prices of some small and medium-sized steel mills in North and East China are lowered by 10-20 yuan/ton. It can be seen from the sharp increase in shipping charges in late June that the arrival volume of imported iron ore in July will gradually increase. At the same time, whether it is loss-making production reduction or routine maintenance, the decline in domestic steel mills' blast furnace operating rate in July is a high probability event, and the consumption of stainless steel strips will decrease accordingly. While the upstream steel mills are rampantly increasing production, the downstream market is experiencing resistance to destocking; the seasonal off-season for consumption is approaching, and the "plum rain" season is coming in June. More rain has seriously interfered with the progress of outdoor projects. Therefore, since June The speed of domestic steel destocking has dropped significantly; at the same time, because agents are weak in later demand and are less motivated to order, steel traders are still very cautious in receiving goods despite the shortage of multiple varieties in the market. This phenomenon is also repeated It shows that the merchants believe that the current steel market lacks price increases, and the low inventory hedging operations are the main ones. The resources of steel mills are hard to come by. According to data from the China Iron and Steel Association, as of the end of early June, the total internal steel inventory of key steel plants was 14.849 million tons, an increase of 677,400 tons or 7.20% from the previous month. China Steel Spot pointed out that the increase in the internal inventory of stainless steel belts indicates that its resource cashing capacity is reduced. After the liquidity is occupied by the inventory, it has to maintain active production for bank loans to gain the trust of the bank. However, fortunately, the bright spots of steel exports have continued for several consecutive months. It is expected that my country's steel exports will remain high in the next few months, so the actual pressure on steel mills is not great.