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[brief comment on SMM Thread] spot Price stops falling and bounces back
Jun 4,2019 18:49CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Today, spot prices rose and fell in all parts of the country, and most cities continued to fall, falling by 10 yuan per ton to 30 yuan per ton. However, after a week of decline in the East China market, after the afternoon futures rebound, the market mentality boosted, spot prices stopped falling slightly rebound, trading has improved from the downturn of previous days. Shanghai market: today's spot prices are basically stable. In the morning, the quotation fell 10 to 20 yuan per ton and Shagang 3950 yuan per ton, but the actual transaction price was basically 3930 to 3940 yuan per ton. In the afternoon, the quotation was slightly back to 3960 yuan per ton, but the transaction also weakened. It is all right for traders to report low prices. Beijing market: today's price is stable, Hegang quoted 3920 to 3930 yuan / ton, some specifications in the afternoon due to the relative shortage of resources, there is a small increase of 10 to 20 yuan / ton. The overall transaction is mediocre. Guangzhou market: today's cold steel quotation rose 20 yuan / ton to 4100 yuan / ton, although the transaction is flat, but the month compared with last week has improved. Wuhan market: today's price down 20 to 30 yuan / ton, in the morning Hubei Iron and Steel quoted price of 3870 yuan / ton, the transaction is OK, in the afternoon superimposed futures boost, spot prices have been slightly raised to 3880 yuan / ton. The overall deal is average. Hangzhou market: today, the quotation of Sha Steel rose slightly by 10 yuan per ton. Quoted in the morning 4030 yuan / ton, with the rising trend of futures, the market price rose 10 yuan / ton, afternoon quotation 4040 yuan / ton. Due to a small rebound in prices throughout the day, due to dealers hanging upside down sales throughout the day, the market situation has improved compared with yesterday, but still cautious. [SMM Steel]

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