Home / Metal News / Steel & Iron Ore / [SMM thread] spot transactions weakened on the 7th, restraining prices from rising sharply with the market.
[SMM thread] spot transactions weakened on the 7th, restraining prices from rising sharply with the market.
May 7,2020 18:43CST
The content below was translated by Tencent automatically for reference.

Macro atmosphere warming, superimposed expected apparent consumption, today's snail main force continues to explore, the spot market opening quotation continues to move up on the basis of yesterday, but after the rise, the transaction is slightly weak, weaker than yesterday, the spot quotation is basically stable in the afternoon. Overall, the deal was not as good as yesterday. [Hangzhou]: the quotation in the morning market rose 10-20 yuan / ton, the mainstream price of Shagang was 3550-3560 yuan / ton, the trend of the whole day was strong, but the transaction situation was general, and the price was mainly stable in the afternoon. Shagang quoted 3560-3570 yuan / ton, and Zhongtian Panluo 36303640 yuan / ton. After the festival, the demand for replenishment is gradually weakening, and the market transaction is weaker today than it was yesterday. [Shanghai]: the morning trading was boosted by the higher disk surface, with thread spot pulling up 20-30 yuan / ton, Shagang 3490-3510 yuan / ton, and snail Shagang 35903610 yuan / ton. Part of the business feedback transaction failed to keep up with the price, the overall transaction is general. [Beijing]: thread maintenance stability, Hegang resources reported to 3450tel 3460 yuan / ton, disk snail stability, Hegang resources quoted to 3700Mel 3720 yuan / ton. The shipment is OK, not much different from yesterday. [Guangzhou]: thread up 40-50 yuan / ton, cold steel offer 3680-3700 yuan / ton, disk snail quote up 30-50 yuan / ton, ten thousand steel quoted 3690-3710 yuan / ton. The terminal has a weak acceptance of the rising price, and the trading volume is not as good as the merchants expected.

Daily reviews

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn