Macro expectations swing, where does the steel market go?

On the macro side, the blockbuster event is about to land, and the macro expectations are disturbed or large; on the industrial side, the supply and demand of steel double decline, and the inventory continues to decline. From a static perspective, the industrial reality is relatively healthy, but from a dynamic perspective, the off-season for building materials is approaching, and downstream demand has limited support for steel mills' profits. Under the background of loose raw materials, it is necessary to be vigilant against the negative feedback pressure on the industrial chain caused by the reduction of steel mills. Overall, macro expectations are swaying, and the industrial reality margin is weakening. The short-term disk may wait for new macro guidance under the pressure of weak reality. Unilateral suggestions are to wait and see (or maintain short-term thinking); in terms of arbitrage, the off-season for building materials demand is approaching, and the expectation of long-term demand improvement still exists. Thread 1-