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[brief comment on SMM] there is an obvious uproar in the purchasing mood of the black Jedi flip terminal.
Jun 11,2019 18:52CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Today, spot prices are generally raised by 10 to 40 yuan / ton, each mainstream market transaction situation has been greatly improved compared with yesterday. Mainly due to, first, the news side: rumor that the pb block was affected by the previous hurricane, quality problems, resulting in the next two months may not be able to deliver the long-term trade agreement (that is, some steel mills of the small and long Association), so Rio Tinto will cancel the July and August small-term Association, and delay delivery, at the same time may also reduce spot investment, the supply side will further tighten expectations. II. Policy aspects: the General Office of the CPC Central Committee and the General Office of the State Council issued the Circular on the issuance of Special Local Government Bonds and the financing of supporting projects. The two fundamentals led to a sharp rise in black futures today, so that the market procurement sentiment has warmed up, resulting in a slight release of terminal procurement demand, which has been in a wait-and-see state. Among them, the Shanghai market: today's hot volume spot price rose 20 to 30 yuan / ton, the mainstream reported 3850 to 3860 yuan / ton, the transaction situation has improved slightly, the overall market activity has picked up significantly compared with yesterday. Tianjin market: the spot price of today's hot coil has risen by 20 yuan to 40 yuan / ton, the mainstream report is 3800 to 3820 yuan / ton, the transaction situation is better, coupled with the arrival of Baotou steel resources today, make up for some of the shortage specifications in time, so the market transaction activity is higher. Lecong market: today's hot volume spot price rose 20 to 30 yuan / ton, the mainstream reported 3880 to 3910 yuan / ton, the transaction is better. [SMM Steel]

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