Publicado: Aug 7, 2023 07:30
Summary of SMM Steel Morning Meeting: Attention should be paid to the implementation of crude steel control policies and changes in steel plant profits. At present, the fundamentals of iron ore are mainly strong demand and weak supply, and the spiral ore continues to weaken, and the profits of steel plants are compressed, which may further affect the demand side of iron ore. Although inventories have accumulated, the contradiction between supply and demand may accumulate gradually in the later period. Considering the expectation of macro policies still exists, it is difficult for iron ore futures to have a large downward trend. In addition, the main contract of this week is shifted to the next month, and the activity of I2401 contract continues to rise. At present, the conservative view is to look weak 01 contract, but attention should be paid to the implementation of crude steel control policies and changes in steel plant profits.

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Summary of SMM Steel Morning Meeting: Attention should be paid to the - Shanghai Metals Market (SMM)