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[SMM thread] prices and transactions both fell, and the market as a whole was dominated by wait-and-see.
Apr 21,2020 19:38CST
The content below was translated by Tencent automatically for reference.


Today, the snail trend is U-shaped, affected by the historic collapse of crude oil, the snail opened short, rose in the afternoon but failed to recover the decline in the morning, closed down-1.24%, the spot quotation moved down synchronously, falling 10-40 yuan / ton. In terms of transaction, the overall volume of shipment is general, the transaction is concentrated in the low price, some regional prices do not change, the transaction is poor, the afternoon disk rose back to stimulate part of the bottom demand. In terms of mentality, the overall market sentiment is mainly cautious wait-and-see, among which,

Due to the relatively strong financial attribute, the market mentality in East China is more affected by the futures market. In the early stage, under the sharp rise in the disk, the rise in spot prices is limited, the market mentality is relatively mild, and recently it is slightly fragile under the rapid decline of the snail, with the whole being mainly short-term cautious bearish. The recovery of terminal demand in South China is better, there is rush demand at the construction site, business feedback on the current shipping situation basically returned to the normal level of last year, mentality relative preference. Although the recovery of terminal demand in central China, North China and Northwest China is relatively poor, there are still some expectations for the volume of the demand end in the later stage, and the spot price also remains relatively stable, fluctuating at 10-30 yuan / ton.

[specific transaction feedback]

[Hangzhou]: this morning, the quotation fell 10-20 yuan / ton, and the mainstream thread of Shagang was about 3520-3530 yuan per ton. In the afternoon, the offer was cut again by 10-20 yuan / ton. The price of thread sand steel is 3500-3510 yuan / ton, and that of Zhongtian is 34603470 yuan / ton. Disk snail Zhongtian report 3610-3620 yuan / ton. The all-day transaction situation is general, the low price in the interval is dominant, but the high price in the range also has certain transaction, the screw disk surface rebounds slightly at the end of the day, and the transaction activity has been improved. Some businesses say there has been a phased decline in terminal demand in the near future.

[Shanghai]: the resources of Shagang have dropped by about 20 yuan per ton throughout the day, and some of the second and third categories of resources have dropped by 30-40 yuan per ton. Thread Shagang opening down 10-20 yuan / ton, Shagang to 34503470 yuan / ton, plate snail sand steel to 3570-3600yuan / ton, continue to reduce 10 yuan in the afternoon to promote transactions, Shagang reported to 3440 yuan / ton, but the trading is still weak throughout the day, businesses generally hold a wait-and-see attitude.

[Beijing]: the thread is stable, the river steel resource is quoted to 3460-3470 yuan / ton, the disk screw is stable, and the river steel resource is quoted to 3730 yuan / ton. Some businesses reduced 10-20 yuan to promote transactions, the lack of specifications still exist, all-day transactions are generally weak.

[Guangzhou]: thread down 20-30 yuan / ton, cold steel offer 3640-3670 yuan / ton, disk snail quotation stable, ten thousand steel quotation 36403660 yuan / ton. The continuity of terminal pick-up is OK, but it is slightly weaker than yesterday.

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