Steel futures fluctuated weakly on Wednesday. In the spot market, spot transactions reached 90,000 tons yesterday. The price of Tangshan billets was 3,080 yuan/ton (-40 yuan), the quotation of Shanghai rebar was 3,360 yuan/ton (-10 yuan), and the price of Shanghai hot-rolled coils was 3,470 yuan/ton (-40 yuan). According to data from the central bank, in the first seven months of 2025, the cumulative increment of social financing scale was 23.99 trillion yuan, an increase of 5.12 trillion yuan compared with the same period last year; RMB loans increased by 12.87 trillion yuan. At the end of July, M2 increased by 8.8% year-on-year, M1 increased by 5.6%, and the stock of social financing scale increased by 9%. On August 12, South Korea's Ministry of Strategy and Finance issued Announcement No. 2025-171, proposing to impose anti-dumping duties on hot-rolled stainless steel plates originating in China for a period of five years.

On the macro front, the increment of social financing in the first seven months maintained a year-on-year increase, staying at a relatively high level, and the credit structure was optimized, indicating that the current combination of policies has achieved good results. In terms of fundamentals, attention should be paid to the afternoon industry data from SteelHome. It is expected that supply and demand will remain weak, and inventories may continue to increase. It is expected that short-term prices will mainly fluctuate.

https://m-q-news.wenhua.com.cn/newshare/#/share/20250814000134?ver=7.3.4