Empty 1, overcapacity is still severe. Most steel enterprises are calculating how much they will lose this year. 2. Transformation is difficult, and the upgrading of manufacturing industry is a long-term accumulation process. It is a long way to go to complete the national reservation in 2025. 3. The quality of steel is unstable, so it can only be sold cheaply.

1 or above, the topic of the National People's Congress this year, de-capacity is a big item. Steel is the first priority. 2.AIIB lends a lot of excess capacity resources to Southeast Asian countries for infrastructure construction. It will provide guarantee for de-capacity. 3, steel production, production enterprises increased.

To sum it up. This year, steel is expected to fall first and then rise (shock). And it is greatly influenced by the policy.

Technically, in the short-term, the big yinxian line formed after today's plunge swallowed up the three-day rise and fell with high probability in the short term. Backed by 1800 bears, it will fluctuate around 1750 in the short term, depending on whether there is any gospel in the policy after the two sessions.