Black futures fell, and the decline in steel prices slowed down.

On April 8, the 2510 rebar contract fluctuated weakly in the morning and closed at 3123 at noon, down 0.51%; the 2510 rebar contract fluctuated weakly in the morning and closed at 3233 at noon, down 0.98%.
On April 8, the 2509 iron ore contract fell weakly in the morning and closed at 698.5 at noon, down 2.72%.
On April 8, the 2505 coke contract fluctuated weakly in the morning and closed at 1582 at noon, down 0.63%; the 2505 coking coal contract fell weakly in the morning and closed at 948.5 at noon, down 2.37%.
The main rebar contract was quoted at 3123 yuan/ton, which was 47 yuan/ton lower than the 20mm third-level earthquake-resistant rebar (theoretical) in the Shanghai market; among the 31 major cities in the country, the prices of rebar in a few markets such as Jinan, Wuhan, Beijing, and Kunming fell by 10-30 yuan/ton, and most markets remained stable.
Macroeconomics: Central Huijin Investment, China Chengtong Investment, and China Guoxin Investment announced to increase their holdings of Chinese stock assets; the central bank said it would provide sufficient re-lending support to Central Huijin Investment when necessary; Trump said it would not suspend the tariff policy.
Industry: On April 7, 237 mainstream traders traded 112,200 tons of construction steel, down 0.7% from the previous month; coke started the first round of price increase; excavator sales in the first quarter were 61,372 units, up 22.8% year-on-year.
Recently, many departments have launched measures to stabilize the capital market. The three major central enterprises announced that they would increase their holdings of Chinese stock assets, while the central bank said it would provide re-lending support to Central Huijin Investment, and market pessimism has eased.
From the perspective of the steel market fundamentals, downstream purchasing enthusiasm is not high, speculative demand is poor, and some traders ship at low prices. Although the coke market is running strong, iron ore and scrap steel prices are weak, and costs are insufficient to support steel prices. In the short term, steel prices may fluctuate and weaken, and the decline has slowed significantly.