Abstract As in the case of capital markets such as gold and commodities, the domestic spot steel market can also use the “falling down†to describe the recent basic trend. The price decline of major steel products has been significantly expanded, and the weekly decline of some varieties even exceeds...
Like the case of gold and other commodities and stock markets such as the stock market, the domestic spot steel market can also use the “falling down†to describe the recent basic trend. The price decline of major steel products has expanded significantly, and the weekly decline of some varieties has even exceeded 2%. According to the latest market report, in the past week, domestic comprehensive spot steel prices fell by an average of 1.24%. Due to the heavy losses in the domestic and international capital markets, the confidence of the spot steel market has also been hit hard. The domestic steel prices have dropped significantly, and the price declines of major varieties have expanded significantly. The weekly price of hot rolled coils has fallen by more than 2%. .
According to analysis, in the plate market, the comprehensive price has fallen sharply. In the Nanjing, Hefei and other regions, the weekly price of medium and heavy plate was more than 100 yuan. The “panic†sentiment in the market warmed up. Driven by the mentality of “buy up and not buy downâ€, terminal procurement was postponed, and the bargaining space in actual transactions gradually enlarged. At the end of the week, although the forward disk of rebar futures opened higher, the concerns of merchants in the spot steel market remained strong, and the mainstream selling price remained weak. At present, the merchants who are bearish in the market are still the majority. Coupled with the near-end of the month, some merchants are tightly funded, and it is estimated that the market is likely to continue to operate in a weak position. The hot-rolled coil market is also weak, and the prices of major markets have fallen. Some relatively high-priced resources in some regions have even experienced “zero transactionsâ€.
In the steel market, the overall market is weak. Affected by the plunge in rebar futures, the price of spot construction steel also continued to decline. Among them, Shijiazhuang and other market prices fell more than 200 yuan per week. People in the market said that the current site procurement is not active, the domestic crude steel output is still high, the panic in the market is spreading, and the wave of gains after the construction steel market Ching Ming Festival has not been effectively continued. Move closer to the low. However, by the end of the week, as the stock market rebounded, the futures of the futures market also rebounded, and the confidence of the spot steel market was slightly boosted.
Analysts of relevant institutions believe that under the double squeeze of high steel output and continued sluggish demand, the operators in the steel market are cautious in operation, and the quotation is continuously lowered for the sake of shipment. In the case that its structural contradictions are difficult to effectively eradicate in the short term, the steel market can only expect the external “environmental†impact factor to improve, so that the steel price that continues to fall can have a slight “breathing†opportunity, which is not bad. The rest are all "expectations."
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