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[SMM thread] 1 date spiralling market bearish sentiment spread
Apr 1,2020 18:42CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

 

Today snail large walk, the national spot market continued yesterday's decline, the average quotation in the opening of the market down 10-20 yuan / ton, the price is more stable throughout the day. The overall transaction is the same as yesterday, all-day transaction is general, low price replenishment situation is more common. As futures continue to fall, traders' bearish sentiment spreads. Specifically:

[Hangzhou]: today's thread fell about 20 yuan, Shagang 3460-3470 yuan / ton, Zhongtian 3450-3460 yuan / ton, disk snail 3620-3630 yuan / ton. The continuity of terminal goods is better, superimposed a small number of traders to replenish the warehouse, the transaction volume is general.

[Shanghai]: the price of thread sand steel resources has been reduced by 10-20 yuan / ton, that of Shagang to 3420-3440 yuan / ton, and that of plate snail sand steel 35503560 yuan / ton. The traders with a large proportion of direct supply have a strong wait-and-see mood, mainly on-demand procurement, and the low price of traders is better.

[Beijing]: the thread is reduced by 10-20 yuan / ton, 33603370 yuan / ton in Hegang and 35803600 yuan / ton in Luohe steel. All-day transaction is weak, intraday snail continues to decline, the business mentality is loose, a small profit to promote the transaction.

[Guangzhou]: thread continued yesterday's decline, opening down 20-30 yuan / ton in the afternoon, cold steel quoted 3670-3680 yuan / ton, disk snail down 20 yuan / ton, Wangang 3640-3650 yuan / ton. The trend of the snail is poor, coupled with the inventory decline is not as expected, the mindset of traders is weaker, the main low price to go to the warehouse.

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