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[brief comment on SMM Thread] the futures of Shagang fell sharply and rose, and the market was hot and happy to welcome the rise.
Jun 11,2019 17:52CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Today, most markets, especially the East China market, ushered in a rise of 10 to 60 yuan / ton driven by futures, and the willingness to purchase downstream has increased. The transaction situation in the market is relatively hot, and there is a certain improvement compared with yesterday. It is worth noting that Fujian Guangdong region in the case of futures rally, although there is a certain rebound, but the strength of futures can not hide the seasonal impact, so the willingness to take goods is not high trading is more stable. At the same time, Guiyang Nanning area in most of the stability or rise in the case of a certain "make-up decline." Overall, the market attitude is still not optimistic, today's futures drive can not be used as a long-term support.

Shanghai market: today's price of sand steel thread rose 50 to 60 yuan / ton, Hongtai rose 70 afternoon quoted price of 3830 yuan / ton. Morning prices rose 40 to 50, driven by futures in the afternoon to continue to pull up, Shagang quoted price of 3960 yuan / ton, the transaction is more stable than yesterday.

Beijing Market: today's quotation of Hegang is stable at 3850 to 3860 yuan per ton, with a flat transaction.

Guangzhou market: today's price rose 10 yuan cold steel to 4040 yuan / ton, according to SMM statistics, the whole Guangdong region in June is at the peak of precipitation, terminal procurement enthusiasm is not high, the transaction is not satisfactory.

Hangzhou market: the price rose 60 yuan / ton today, and the quotation rose 40 yuan / ton to 4030 yuan / ton in the morning. With the futures floating red, the market price continued to rise 10 yuan / ton to 4040 yuan / ton in the afternoon. The whole day trading situation is better, the futures move higher pull, the market purchase mood strengthens. In addition, Shagang price adjustment policy for the market mentality has been boosted, some traders reaction upside down the situation improved, began to have a certain profit.

Guiyang market: today, Shuigang thread fell 40 50 to 4170 yuan / ton, small plant resources have the phenomenon of price increase. On the one hand, the local financial attribute is weak, affected by the futures rise is relatively small. On the other hand, because the price of local water and steel resources is relatively stable in the early stage, it is reasonable to have a "make-up" phenomenon today under the dual impact of the increase in external shipments and the suppression of demand under the influence of the season. The transaction situation is more general.

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