[brief Review of SMM Thread] "Water piercing" inspection, is it a soldier-on-the-spot or a vanguard signal?
Recently, the market rumors AQSIQ strict inspection of East China, especially Nanjing "water-piercing steel bar." It is reported that since the implementation of the new thread standard in November last year, some steel enterprises have still illegally produced "water-piercing" steel bars in order to save costs (it is estimated that the cost of hot-rolled steel bars is 70 to 250 yuan / ton higher than that of water-piercing steel bars). Therefore, there are still some of these illegal steel bars in circulation on the market. If this steel bar "security check" is strictly implemented on a large scale, the supply of low-cost thread resources may be reduced again. However, according to SMM research, in addition to the rumored birthplace in Taizhou, Zhejiang Province, there is a strict investigation of "water penetration", the current "public opinion center" Nanjing market traders and steel mills have not received such information, the local steel bar quality inspection began in November 2018, there has been no stricter phenomenon recently. Follow-up SMM will continue to track.
The current price of thread is running on the strong side, among them, the spot price rises 10 to 60 yuan / ton, on the one hand, the macro data released by the National Bureau of Statistics played a certain role in boosting the market mentality a few days ago. Today, spot prices continue to rise after yesterday afternoon; On the other hand, early iron ore futures were stimulated by the Australian earthquake and the suspected decline in the grade of Jinbuba iron ore, which also played a certain role in promoting the increase of black current prices. However, after the good release of demand yesterday, today's performance is relatively weak, the overall transaction is weaker than the previous month.
Beijing market: today, Hegang resources rose 50 yuan / ton, pulled up 20 to 3910 yuan / ton in the morning, the transaction performance is good, the afternoon homeopathy continues to pull up 30 quoted price 3940 yuan / ton.
Shanghai market: today's quotation is up 10 to 20 sand steel thread price 3990 to 4000 yuan / ton, the transaction is general, it is worth noting that recently, due to the local price relatively belong to the "low-lying" zone in eastern China, the low price goods have decreased.
Hangzhou market: today's spot price rose 10 yuan / ton, Shagang quoted 4060 yuan / ton, Zhongtian quoted 4030 to 4050 yuan / ton, yesterday afternoon with the snail tail pull up spot prices have experienced a wave of rise, the transaction is also relatively flat, spot prices do not continue to rise sharply.
Guangzhou market: today's price rose slightly by 20 yuan / ton, cold steel quoted price of 4140-4160 yuan / ton. The deal was released smoothly.