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[brief comment on SMM Thread] East China ushered in the silence after the carnival
Jun 12,2019 16:16CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

National thread prices rise and fall, most cities spot prices fell, however, Nanchang, Hefei and other prices rose slightly. On the whole, the market is much calmer than yesterday's heat, and the transaction situation is worse. Yesterday welcomed the sharp rise in the East China market today ushered in the silence after the carnival, with the small drop in futures, spot weakness, prices fell. Downstream take goods warm cooling, began to take a wait-and-see state, compared with the price to take goods cautiously, at the same time, Shanghai inventory pressure is greater, so the East China market transactions are poor. It is worth mentioning that Changsha and Guangzhou have been hit by torrential rain, downstream demand has been curbed, the actual transaction price in Guangzhou is 4000 to 4030 yuan / ton.

Beijing market: today's price fell 20, a small rise of 10 to 20 in the morning, but futures correction, coupled with yesterday's good trading, terminal procurement demand has been released, so today's enthusiasm for goods is not high, transaction deviation, 40 in the afternoon quoted by Hegang resources 3840 yuan / ton.

Guangzhou market: cold steel quotation rose 10 to 4040 4050 yuan / ton, but the actual transaction price has loosened, the low price is 40004030 yuan / ton. Under the influence of the weather (Guangdong Provincial Office of Emergency Management, Provincial Meteorological Bureau issued a notice today: 12 to 14 northern Guangdong, eastern Guangdong, Pearl River Delta region torrential rain), the lower reaches of the goods are very few, today's transaction is poor. In days of heavy rain, Guangzhou this week, although still declining, but the rate of decline has been significantly convergent, and thread, wire disk inventory are higher than the same period last year.

Hangzhou market: today's price fell by 30 yuan / ton, Shagang quoted at 4000 to 4010 yuan / ton. The deal was desolate and miserable throughout the day. After a brief rise in futures, Hangzhou market downstream wait-and-see mood is strong, traders began to reduce prices to promote transactions, but the trading situation is still bleak.

Changsha market: prices fell by 40 yuan / ton today, rainstorm weather seriously curbed downstream procurement demand. The afternoon cut of 40 yuan / ton, still can not save today's deal.

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