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[brief comment on SMM Thread] spot performance is not as strong as futures, and there is no bright spot in the transaction situation.
Jun 20,2019 18:03CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

 

 

Today in the raw material side of the strong support (iron ore futures in the fundamentals of strong support, this continued to rise, a strong surge, and then break the new high in nearly five years), black futures followed by the rise, collective fluttering red, market sentiment has been boosted to a certain extent. However, on the fundamental side, although the recent supply side, that is, production has fallen, but has not yet been clearly reflected in the market, thread fundamentals have not been significantly "boosted", so spot prices have risen slightly but have not risen sharply, and there is no bright spot in the transaction situation. Beijing market: today's spot price stable quotation 3710 to 3720 yuan / ton, business feedback recent shipment situation is still OK, relatively stable. Shanghai market: today, Shagang resources are basically stable, Shagang quoted 3850 3860 yuan / ton, the morning quotation rose 10 20 3870 3880 yuan / ton, there was a slight drop in the afternoon, business feedback although the first-line resources transaction is general, but the small factory resources transaction is OK. Hangzhou market: a total increase of 20 yuan per ton throughout the day. Shagang quoted price of 3930 yuan / ton in the morning. The transaction situation is not satisfactory, the afternoon price remains stable, some traders feedback that the shipping situation today has improved compared with yesterday. Guangzhou market: today, cold steel resources remain stable, thread quotation 3960 yuan / ton, the transaction is general, there is no obvious improvement. [SMM Steel]

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