The third meeting of the 13th National People's Congress opened on the morning of the 22nd, and the market paid close attention to the relevant contents of the government work report. Unlike previous years, the two sessions were postponed this year and no specific target for economic growth was put forward for the whole year, mainly from the current global epidemic and economic and trade situation of uncertainty, will bring unpredictable impact on the economy throughout the year, the steel market uncertainty is still large! What the two sessions focus on: each year, economic growth targets and the next phase of work deployment will become the focus of the market. This year, in the special context of the global epidemic, we are focusing on four aspects: First, the Government Work Report does not put forward a specific target for economic growth for the year, while the 2019 target is 6% to 6.5% , and GDP fell by 6.8% in the first quarter of this year, downward pressure on the economy in the second quarter remains, and there is no clear growth target this time, mainly because "the global epidemic and economic and trade situation is very uncertain, " whether the full-year economic target can achieve the target of 5.6% to ensure that GDP doubles, there is also a great deal of uncertainty. Second, according to the Macroeconomic regulation and control policy, the deficit rate for this year is 3.6% or above, the size of the fiscal deficit is 1 trillion yuan larger than last year, and 1 trillion yuan special national debt is issued. It's about the size of the market. Third, infrastructure investment-related special debt issuance of $3.75 trillion, previously the market is expected to be between $3.5 trillion and $4 trillion. It is worth noting that the meeting again stressed the strengthening of new infrastructure construction, for the steel sector, some pull in the medium and long term, but the short-term demand for steel is limited. Fourth, the report stressed that "we should stick to the position that houses are used for living, not for speculation, and adopt policies in accordance with the city, so as to promote the steady and healthy development of the real estate market. " Put forward to improve facilities for the convenience of the people, the Old City transformation is still the focus. Real estate control is expected to remain mainly stable throughout the year, is unlikely to appear beyond the expectations of the "loose" . The cost support is still strong: The price of coke has gone up and down in the second round, and the price of coke has gone up and down in the third round. Recently, the price of coke has gone up and down in the second round. With the "coal reduction" in Shandong and the promotion of the environmental protection production limit in Shanxi, the price of coke has gone up and down smoothly, and so on, inventories at steel mills continued to fall, dropping 80,000 tonnes this week to 550,000 tonnes. It is understood that Shanxi, Hebei, Henan Duodi Coke enterprises have planned May 25 from the third round up 50 yuan / ton. Recent raw material prices continued to strengthen, the steel price support is still in. Steel prices mostly stable, market wait-and-see sentiment than strong today steel prices in most regions to run steadily, futures high-level drop, on the spot transactions have a certain impact, market wait-and-see sentiment is strong. Rebar 24 markets in 3 markets up 10-20,5 markets down 10-20,20 mmhrb400e average price 3757 yuan / ton, compared with the previous trading day down 1 yuan / ton; Hot Coil 24 markets in 2 markets up 10-20,5 markets down 10-50, 4.75 the average price of hot-rolled coil is 3,667 yuan / ton, which is 3 yuan / ton lower than the previous trading day. The average price of 14-20 mm plate is 3,810 yuan / ton, which is the same as the previous trading day. To sum up, this round of news basically in line with the market expectations, with the two sessions held, a good landing, the market has some downward pressure, but volatility will not be too large, the two sessions period is still dominated by narrow adjustment. Prices are expected to remain stable in most regions with a few markets weakening tomorrow.