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[SMM Thread] 2 days snail rebounded sharply spot demand broke out
Apr 2,2020 18:40CST
The content below was translated by Tencent automatically for reference.

Today, the snail weakened in early trading after a strong rebound, the national spot market in the opening down, noon and afternoon have been raising quotations ranging from 10 to 40 yuan, basically recovering the morning decline, the markets throughout the day slightly rising and falling interchangeably. In terms of transaction volume and inquiry volume in the morning, near noon with the surface of the rebound, copy the bottom demand is stimulated, inquiry and relatively low-priced resources of the trading volume is rapidly hot. In the afternoon bullish sentiment spread, many places a number of traders cherish the closure of the warehouse. Specifically: [Hangzhou]: thread mainstream resources opened down 20-30 yuan, Shagang reported 3440RMB-3450 yuan / ton, the morning transaction was basically the same as yesterday, rebounded at noon, the quotation continued to move up slightly, and recovered the morning decline in the afternoon. Shagang 34703480 yuan / ton, Zhongtian 34103430 yuan / ton, noon inquiry is hot, some traders after the rise to cherish the sale, in a small amount of shipment after a small increase in the warehouse. [Shanghai]: the price fell 4050 yuan / ton in morning trading and 3380 3390 yuan / ton in Shagang. Subsequently, the snail rebounded sharply to stimulate the demand for bottom replenishment, and the low price at noon was excellent. Prices rose in chaos in the afternoon and almost returned to yesterday's price at the close of the market. The market is bullish and active, and some of them stop quoting after some of them go to the warehouse. [Beijing]: the opening price was reduced by 10-20 yuan / ton, and in the afternoon it rose back to 3360-3370 yuan / ton in Hegang and 3580-3590 yuan / ton in disk snail. Speculative demand has been stimulated, midday transactions are booming, trading volume reached its peak in recent weeks today, according to feedback that most traders closed their warehouses in the afternoon. [Guangzhou]: the opening of thread and disk snail was stable, up about 20 yuan / ton in the afternoon, 3640-3650 yuan / ton for thread cold steel, and 3650 yuan / ton for disk snail ten thousand steel. The bottom demand was superimposed on the terminal pre-node replenishment demand, and the trading was significantly better than yesterday.

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