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[SMM hot volume brief comment: market transaction is weak traders sad price reduction barrier? ]
Jun 3,2019 19:06CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Last week's PMI data and SMM inventory data reflect that the downstream terminal (automobile, real estate, etc.) industry is relatively depressed, resulting in weaker terminal demand. In addition, last week's inventory data has already turned around, and the fundamental contradiction is beginning to emerge. And in the case of loosening production restrictions, some steel mills in Tangshan have plans to resume production this week, and it is expected that the supply of steel mills will continue to maintain a high level in the later period, so the fundamental contradiction that market supply exceeds demand will expand. And the current market price pressure is greater, coupled with today's hot volume futures continue to weaken, so the overall market sentiment is more pessimistic, the transaction is weak.

Lecong Market: the current quotation fell 20-30 yuan / ton to 3910-3960 yuan / ton, the transaction is weak. Affected by the continuous decline in futures prices, the market mood is relatively low, coupled with weak market demand, most traders still take to lower the price in exchange for a small amount of the situation.

Tianjin market: the current quotation fell 30 40 yuan / ton to 3820 3830 yuan / ton, the transaction is average. The current demand of the market mainly comes from the on-demand replenishment of the terminal, the downstream traders are more wait-and-see, the mood of taking goods is not high, but compared with the overall demand of other mainstream markets can still be maintained.

Shanghai market: the current quotation fell 30 yuan 60 yuan / ton to 3870 yuan / ton 3900 yuan / ton, the transaction is poor. And in the case of most of the downstream traders are bullish, coupled with the increase in the arrival of goods in the market, resulting in a relatively high mood of overselling in the market. [SMM Steel]

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