National steel market inventory has decreased for the fifth consecutive week

The national steel market inventory has decreased for the fifth consecutive week, but this week's inventory decline was the smallest in the past five weeks. The current inventory level is 8.87% lower than the same period last year. The recent rapid and drastic increase in steel prices has had a significant inhibitory effect on terminal demand. At the same time, as temperatures in various regions decrease, seasonal demand has also weakened, making it more difficult for market inventory to further decline in the later stage.

According to the data of the National Bureau of Statistics, from January to October, the national fixed assets investment increased by 8.3% year on year, 0.1 percentage point faster than that from January to September, and rebounded for two consecutive months. Among them, the investment growth rate in October increased by 9%, which is 0.2 percentage points faster than September. The investment growth rate in that month has rebounded for three consecutive months.

In addition, the newly constructed area of housing increased by 8.1% year-on-year, an increase of 1.3 percentage points compared to January September; The land acquisition area of real estate development enterprises was 168.73 million square meters, a year-on-year decrease of 5.5%, a decrease of 0.6 percentage points compared to January September. Except for a significant rebound in real estate investment, the performance of other major sub items remained relatively stable.

It is worth noting that infrastructure investment increased by 19.4% year-on-year from January to October, which is consistent with the growth rate from January to September. In October, infrastructure investment decreased from 15.6% in September to 15.3% year-on-year. The investment in the manufacturing industry increased by 3.1% year-on-year from January to October, which is consistent with the growth rate from January to September. In October, the monthly investment in the manufacturing industry decreased from 5% in September to 3.1% year-on-year. The growth rate of fixed asset and real estate development investment accelerated in October, while the growth rate of infrastructure investment remained high. The demand for steel in the domestic market remained at a relatively high level.