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[SMM Weekly selected] Central Bank directional reduction of "timely Rain" Hot Volume spot prices are likely to overshoot and rebound next week
Apr 4,2020 10:48CST
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Source:SMM
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"SMM Iron and Steel Industry chain Weekly report", the weekly report SMM will select one of the hot topics, prices, market or major changes in the industry chain information published for your reference.

According to the current 3 data, it is predicted that the fundamentals of rebar will continue to increase in supply and demand in April. Given that the recovery on the demand side is not to be underestimated, there is no incentive for steel prices to continue to fall sharply in April, or there is the possibility of an increase. However, in the current inventory year-on-year high, macro uncertainty still exists and the cost of downward risk, the continuous sharp rebound power is insufficient, the upward space is still limited.

Hot roll futures prices fell sharply this week, with futures falling twice as much as spot losses. Mainly due to the continuous fermentation of the foreign epidemic this week, the outer disk fluctuated sharply, causing greater interference to the domestic black market sentiment, prompting the early part of the week to continue last week's decline, and the decline is greater. As a result, the hot roll spot market panic intensified, terminal procurement wait-and-see mood is strong, large customers have low prices, making the spot price also fell sharply with the futures.

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