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[SMM Thread] Steel mills have adjusted their prices one after another. Is it time for spot prices to go up?
Apr 13,2020 18:53CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Since mid-April, spot and futures prices have risen resonantly-thread spot prices have increased by 35.4 yuan / ton, and snail settlement prices have increased by 95 yuan / ton. At the same time, according to SMM statistics, a total of 20 steel mills have adjusted the ex-factory prices of building materials since mid-April. As far as the adjustment is concerned, the ex-factory prices of 18 steel mills have been raised by 10-50 yuan / ton, and the market has fallen into a state of confusion as to whether the spot price will usher in a sustained rise.

According to SMM research, the current steel mill mentality is still cautious. On the fundamentals, although demand is gradually recovering, the pressure on the supply side is still not to be underestimated-the electric furnace plant continues to resume production, the blast furnace plant has a strong enthusiasm for full production, and the current total thread inventory is nearly double that of the same period last year. At present, the spot price of thread is still in the state of following the narrow fluctuation of the disk, and the momentum of the sharp rise is still insufficient.

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