[SMM Thread Analysis] Weekly carding: fundamental support superimposed message surface to help, thread spot price still has a rebound opportunity
Oct 12,2019 18:30CST
The demand performance tends to be stable in the post-season peak season, and the supply side is also basically stable-the long-process steel plant continues to be curbed by production restrictions, while the electric arc furnace steel plant continues to "rise" in scrap prices, the enthusiasm for resumption of production ignited by the rise in steel prices in mid-September has been hit. Overall, the supply and demand of threads in October was bistable, and the fundamentals did not fluctuate much in the short term, but the Bureau of Statistics will release industry-related macro data next week. If the data are better, coupled with the good news of "shaking hands" between China and the United States a few days ago, spot prices are highly likely to fluctuate on the strong side.
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