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[brief Review of SMM Thread] the passion is declining and the decadence is still the same.
Jun 13,2019 17:52CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

As the market gradually digested the macro good news, the market passion faded, and after the thread spot price rose "in the pan", today's decline continued to weaken the day before, with prices falling by 10 to 50 yuan per ton. However, the raw material side of the afternoon was driven by the good news (on June 13, Iran local time, two large oil tankers were attacked in the Sea of Oman, and iron ore freight prices are expected to rise). Iron ore near the end of the day, led to a sharp rise in the tail, market sentiment has been boosted, some areas of spot prices have also been slightly higher. Among them, the Beijing market: this price fell 20, the morning price maintains the stability, but the transaction deviation, the afternoon reduces 20 river steel quotation 3820 yuan / ton, the whole day transaction is general, the trader mentality is more pessimistic, to the future market price is still bearish. Hangzhou market: today's spot price fell 40 yuan / ton, 10 Shagang quoted price of 4000 yuan / ton in the morning, the market response is general, the transaction is not ideal, in the afternoon continue to fall 30 to 3970 yuan / ton, however, the low price transaction situation is still not satisfactory. The market mentality is not optimistic. Shanghai market: the price of screw thread has been slightly reduced today. In the morning, Shagang quoted 3920 yuan / ton, the actual transaction price is 3900-3910 yuan / ton, the shipment situation is OK, affected by the period snail close pull up, some merchants quoted price also increased, 3910-3920 yuan / ton. Guangzhou market: today's price is stable, cold steel quotation of 4030 yuan / ton, but the market has a hidden drop of 10 to 20 yuan / ton, the transaction is OK.

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