The June 2024 steel PMI shows that the characteristics of the off-season are gradually emerging, and the pressure on the steel industry is slowing down

Golden Ten Futures, June 30th, according to the PMI of the steel industry surveyed and released by the China Internet of Things Iron and Steel Logistics Professional Committee, as the temperature rises, the characteristics of the off-season of the steel industry gradually appear. In June 2024, it was 47.8%, a decrease of 2 percentage points from the previous month, ending two consecutive months of rising trend, reflecting the slowdown in the pressure on the industry. The sub-index changes show that in June, both the supply and demand ends of the steel market fell, the price of raw materials fell in the short term, and the price of steel continued to decline, but the profit of steel mills has been repaired. It is expected that in July, market demand will rebound slightly, the production of steel mills will rise slightly, the price of raw materials will fluctuate weakly, and the price of steel will rise slightly