The continued rebound in overseas markets combined with domestic investment expectations, black futures jumped higher, and today National Bureau of Statistics of the People's Republic of China reported a sharp drop in GDP in the first quarter, down 6.8% from the same period last year, spot price rose a few, as the early stage of the disappearance of panic, infrastructure investment, trading mood has warmed up. Attention: Billet this week up 40 to 3080 yuan / ton, and today 32 steel prices, 20 steel mills up 10-50! So how will the price of steel evolve? LET'S KEEP LOOKING! 1. Market quote slightly up, high prices traded cautious futures high open low go, spot quote slightly up. Market transaction differentiation, building materials better than hot roll, some businesses raised after the transaction in general, limited. Prices quoted in the market mostly remained stable, a few 10-30 up: Rebar 24 Markets 7 markets up 10-30,20 mmhrb400e average price 3618 yuan / ton, compared with the previous trading day up 7 yuan / ton; hot coil 24 markets 12 markets up 10-30, 4.75 the average price of hot-rolled coil was 3,412 yuan / ton, which was 9 yuan / ton higher than the previous trading day, and the average price of 10-20,14-20 mm plain medium plate was 3,669 yuan / ton higher than the previous trading day, which was 2 yuan / ton higher than the previous trading day. 2. China's economy was hit hard by the epidemic in the first quarter, with National Bureau of Statistics of the People's Republic of China data showing that the gross domestic product (GDP) in the first quarter was 206504 billion yuan, down 6.8% year on year. By sector, the secondary sector of the economy dropped significantly, with an added value of 7,363.8 billion yuan, down 9.6 percent. It is worth noting that steel demand closely related to the manufacturing sector fell 10.2% in the first quarter, crude steel output growth of 1.2% . It also reflects the steel industry in the first quarter of the sharp decline in demand against the backdrop of continued output and high inventory pressure. The march data, however, show a clear improvement. Of these, industrial output in March was down 1.1 per cent year-on-year, a 12.4 percentage point decline from january-february, and up 32.13 per cent month-on-month, with industrial output close to year-on-year levels. In addition, China's investment in real estate development totaled 2,196.3 billion yuan in the january-march period, down 7.7 percent from the same period last year, a drop of 8.6 percentage points from the january-february period. In general, the amount of steel used in new construction accounts for a relatively high proportion, with 282.03 million square meters of new construction area in January-march, a decrease of 27.2 percent and a reduction of 17.7 percentage points. Reflecting signs of a pick-up in the housing market, but still below the level of the same period last year. Real estate investment is still under downward pressure throughout the year. But in view of the stock of land, the epidemic after the suppression of rush demand release, as well as local policy support, short-term steel demand release space, steel prices have a bottom support. 3. Crude steel output decreased 1.7% year-on-year in March. Both crude steel output and steel output decreased year-on-year in March. China's crude steel output in March was 78.98 million tons, down 1.7 percent year on year, and 234.45 million tons from January to March, up 1.2 percent year on year. China's steel production in March was 98.88 million tons, down 0.1 percent year on year, and 267.42 million tons from January to March, down 1.6 percent year on year. 4. Scrap continued to rebound, cost support to strengthen scrap after a period of oversold market, steel mills scrap resources continue to decline also supported this round of price rebound. Scrap steel rose in recent weeks, the largest increase in eastern China, up to 100-150, north China prices rose close to 100, today most continue to increase 30-80. As the price of finished products continues to rise to the end of raw materials also left more room for growth. At the same time, the continued rebound of raw materials to further support the formation of steel prices. To sum up, the sharp drop in GDP in the first quarter reflects the impact of the epidemic on the economy. However, according to the march data, the rate of decline in real estate investment growth narrowed and showed a trend of warming up, there is room for a phased release of demand. And after the early decline in steel prices, risk has been released, scrap and other raw materials to form a low rebound cost support, but need to be vigilant after the rise in profits brought about by the pressure to reduce storage. Steel prices are expected to rise in limited space, this weekend the main stability of a small increase in the market.