The second reference has been reduced since the beginning of this year, and it is expected that the medium- and long -term funds will exceed 500 billion yuan. The author believes that after half a year, the RRR cuts again will reflect the good steel market in the following five aspects:

The first is to create a big environment for the steel market. Since the beginning of this year, after the "big moves" such as reducing interest rate cuts and optimizing real estate financial policies, they have now surrendered for a second time to maintain reasonable liquidity. Great environment.

The second is to support the development of the real economy and stimulate the release of more steel demand. The reduction will inspire financial institutions to increase investment in the real economy. It is expected that a large amount of funds will enter the real economy field to stimulate the demand for steel. For example, this reduction is expected to have a positive impact on the real estate industry. According to incomplete statistics, as of September 14, more than 30 provinces across the country introduced the optimization policy of the real estate industry. Due to the increase in urban policies, multiple second -tier cities have completely canceled the purchase restriction and sales restriction policies. After the surrender, the reasonable capital needs of buyers and real estate development enterprises are expected to be more supportive, and the real estate market is expected to be further repaired.

Third, it is conducive to reducing the cost of use. Since the beginning of this year, through the continuous reduction of ramen and interest rate cuts in the central bank, the cost of financing of the real economy has declined significantly. Data show that in the first eight months of this year, the loan interest rate of enterprises across the country fell to a historical low, and the interest rate of personal housing loan fell by 0.95 percentage points year -on -year. After the surrender of the RRR cut, the space for the decline in the cost of financing in the real economy is expected to further expand, which is conducive to promoting the continued decline in corporate financing and resident credit costs, and improving economic activity.

The fourth is to release positive signals. The central bank has fallen by 25 basis points this time, releasing positive signals, indicating that the decision -making department has a firm growth direction, and its counter -cyclical adjustment is increasing, and the policy tools are sufficient. The continuous "big moves" of the continuous wide currency are frequently emerged, and the promise of "maintaining a reasonable liquidity" is promised to be realized, and the steel market will be further strengthened.

Fifth, the prices of steel and black products have risen moderately. Since June this year, my country's steel prices have picked up. The surrender has strengthened the stamina for financial support to expand domestic demand. With the recovery of market confidence and the emergence of policy conduction effects, the smooth economic cycle will be further improved, which will help to play the early leading role of financial resources and help the price of steel for a moderate recovery.