In the first half of 2023, steel prices showed an "N" type trend:The first quarter of the high season steel prices up: the economy entered the recovery track in the beginning of the year, driven by the recovery of macro expectations, more infrastructure projects and real estate sales, steel prices rose in the first quarter；In the second quarter, steel prices showed a "V" shape trend, and the price center moved down from the first quarter: affected by overseas bank thunderstorms, overseas recession expectations strengthened, while domestic economic recovery momentum began to slow down, and policy expectations turned to weak recovery. In terms of industry, the contradiction between supply and demand in the steel market appears. Driven by high supply and weak demand, steel prices entered the downward channel and stabilized until the end of May.Entering June, driven by the market's strong expectation of policy stimulus in the off-season and the continued destocking of steel inventories, steel prices showed a slight rebound.