Publicado: Sep 18, 2023 17:17
On September 18th, the futures market fluctuated upwards, closing at 3903, up 0.31%. In the spot market, mainstream regions in China reported steady to slightly higher prices. With the impact of maintenance weakening, production this week is expected to increase slightly, but the pressure of hot roll supply is unlikely to be relieved in the short term. At present, domestic demand is weak, but prices can be shipped when they are low. Generally speaking, the demand for necessities is still there, and it has gradually entered the key period before the festival, but the demand has not been released explosively. From the raw material side, coke maintains a tight balance between supply and demand, and the contradictions of the short-term fundamentals of iron ore have not yet fully emerged. Under the support of high costs, the short-term roll price has limited room to fall, but as time gradually enters the peak season, the market trading logic is transitioning to the degree of improvement of peak season demand. At present, real demand is still weak, which also makes the driving force of following the raw material side slightly insufficient. Therefore, it is expected that hot roll prices will still fluctuate in the short term. Attention should be paid to the release of pre-festival replenishment demand in the second half of the week.

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On September 18th, the futures market fluctuated upwards, closing at 3 - Shanghai Metals Market (SMM)