According to SMM, as of May 12, the operating rate of billet steel mills was 84%, 10% higher than at the beginning of April. Mainly on the one hand, more than 70% of the current billet adjustment plant said that it is still profitable-and it is reported that the current imported billet price is lower than the domestic 30-100 yuan / ton, some manufacturers hold imported billet inventory, profit space is relatively larger. On the other hand, under the gradual recovery of demand, the shipping situation of steel mills has significantly improved compared with the early stage, and some manufacturers have expectations of price increases in the later stage. [feedback of specific investigation] Steel Plant A (North China): at present, the billet cost is relatively high, the purchasing cost is about 3220 yuan / ton, and the ex-factory price of finished material is 34703480 yuan / ton. Steel Plant B (East China): at present, it is basically in the state of capital preservation. At present, the cost of imported billet is 3160-3170 yuan / ton, and the cost of domestic billet is 3200 yuan / ton. For the future price is more worried, mainly worried about the later Meiyu weather on the weakening effect of demand. Steel mill C (East China): at present, keep a small profit, optimistic about the spot price in August-September. A total of about 200000 tons of imported billets have been ordered, and more than 100,000 have not yet arrived. Steel Plant D (South China): at present, the cost of billet delivery is 3400 yuan / ton, the ex-factory price of finished steel is about 3700 yuan / ton, there is a small profit, the shipping condition is OK. The third quarter of the future is more bullish, May-June prices may be dominated by volatility.