With the recent continuous adjustments, the bottom structure of the domestic steel market has approached or basically formed. Although the transaction still appears to be a little light, the previous adjustment stage of the domestic steel market price has been broken, and there has been a slight upward trend. Among them, the construction steel has emerged from a small increase. At present, the bottom of the price is more consolidated, and the steel market will continue to reserve power and upward momentum. Combined with the recent national stable growth policy, the overall trend of the steel market is taking shape, and the price is ready to rise. At present, the steel market is in the stage of climbing from the bottom up. Affected by the warmer weather, the increase in construction sites has led to an increase in purchases. The transaction in the stainless steel strip market has improved compared with the previous period, social inventories have dropped in an all-round way, and the domestic steel price index has also been rising, confirming the quiet recovery of the steel market. trend. On the macro level, the recent announcement of the national new-type urbanization plan, resulting in the acceleration of infrastructure construction, the vigorous implementation of housing projects, and the changes in the consumption structure of residents will have a positive impact on the steel market, and the overall upward trend is taking shape . The “selling wave” in emerging markets that took place in August last year and January this year is just a prelude to a bigger crisis. When the Fed starts to raise interest rates, the market will face even greater dilemmas than it is now. Drawing on historical experience, whenever there are major changes in global capital flows, emerging markets will experience major fluctuations, and Tao Dong believes that this time is no exception. In recent years, consumer investment in emerging markets has basically relied on the inflow of hot money to maintain a balance of income and expenditure. Once the Fed’s monetary policy changes and the flow of hot money changes, its fiscal deficit and current account deficit will become unsustainable. Upward will also rely on the United States. In addition, in terms of the demand of the real economy, if China's demand does not rebound significantly, the emerging market economy will also experience many challenges. However, although the bottom of the stainless steel strip market is more consolidated, the degree of demand release still needs to be improved. The upward price climb is a bit difficult, and the accumulated kinetic energy is not yet sufficient.