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[SMM hot coil] the disk "fan" pulled up the transaction, and the price both rebounded.
Apr 22,2020 18:53CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Today, both the news and fundamentals show good, leading to the overall trend of the volume to maintain a volatile upward, boosting the market mentality. Prompted each market trader quotation along with the increase of 10-20 yuan / ton, the transaction is better than yesterday. Among them,

Message: the China Steel Association called for deepening supply-side reform, preventing blindly from blindly expanding production capacity, and being alert to the risk of serious overcapacity again. The Ministry of Finance said that the purchase of new energy vehicles is exempt from vehicle purchase tax, and passenger car retail sales rebounded relatively smoothly in the third week of April (13-19).

Fundamentals: this week, Shanghai hot roll regional inventory fell 25000 tons, Lecong hot roll regional inventory fell 8400 tons, Ningbo hot roll regional inventory fell 8500 tons.

In terms of market transactions,

[North China Market]: the morning trading in Tianjin and Tangshan was relatively weak, the quotation was lowered, and in the afternoon, the quotation was raised by 10-20 yuan / ton, the low price was better, and the transaction was generally done all day.

[South China Market]: the transaction was weak in early trading, and the quotation was firm. In the afternoon, the price was pulled up with the market, and the transaction turned better, and the quotation was raised by 10-20 yuan / ton.

[East China Market]: in the morning trading of Shanghai and Zhangjiagang, the quotation was lowered by 10-20 yuan / ton, the transaction was general, the disk rose in the afternoon, the terminal purchasing and speculative trade were more active, and the transaction obviously improved.

Source: Shanghai Nonferrous Network

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