This week, the food processing machinery market remained at low levels with significant divergence among different product categories: After the first round of price fluctuations, the downward trend of coke prices slowed and turned into consolidation. However, limited steel mill profits and weak terminal demand restricted the potential for a second round of price increases. Iron ore prices rebounded this week, supported by blast furnace pig iron production. However, May pig iron output may have peaked and begun to decline, while overseas tariff policies continue to disrupt export expectations, leading to gradually accumulating mid-term demand risks. In finished steel products, hot-rolled coils outperformed rebar, demonstrating greater resilience both domestically and internationally. However, rebar demand growth has slowed, inventory reduction momentum has weakened, and anti-dumping policies have suppressed exports, leaving the overall market lacking upward momentum. At the macro level, the tone of overseas tariff negotiations and domestic policy stability remain unchanged, keeping market sentiment under pressure. Currently, rumors of production cuts are exacerbating the divergence between finished steel products and raw materials, but coking coal supply is ample, steel mills are cautious about restocking, and cost-side support is limited. Steel prices are expected to remain volatile, with continued divergence among different products.
