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[brief Review of SMM Thread] the price of the new week begins with a probe, the market panics and gives up the struggle.
Jun 17,2019 17:39CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Today, most cities across the country ran downward, falling 30 to 90 yuan / ton, including 70 yuan / ton in Shanghai, 60 yuan / ton in Hangzhou and 90 yuan / ton in Beijing. In the face of a sharp fall in prices, the market panicked and gave up the struggle to make up for the gap. On the whole, although the demand is still there, but the enthusiasm of downstream procurement is not high, the transaction situation is generally poor.

Beijing market: today's spot fell 80 to 90 yuan / ton, the morning quotation fell 30 to 40, Hegang quoted 3770 to 3780 yuan / ton, the transaction is poor, in the afternoon continues to drop 40 to 50, the river steel quotation 3730 to 3740 yuan / ton, the whole day transaction is not very satisfactory.

Shanghai market: spot prices fell 60 yuan / ton throughout the day, in the morning Shagang quoted 3860-3870 yuan / ton, futures fell, market sentiment was depressed, the afternoon pullback 10-20, Shagang quoted price of 3840 yuan / ton, the transaction is not good, some traders still hang on the basis of Shagang price adjustment of about 100 yuan / ton.

Hangzhou market: the screw thread price dropped 60 yuan / ton today, the quotation was 10-20 yuan / ton in the morning, 3950-3960 yuan / ton in Shagang, and continued to explore 40 yuan / ton to 3910 yuan / ton in the afternoon. The transaction is poor all day, there is the situation of letting the price to promote the transaction.

Guangzhou market: today's price fell 20 to 30, cold steel resources of 3990 to 4000 yuan / ton, the actual transaction has fallen secretly, the transaction is not satisfactory. [SMM Steel]

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