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[SMM Thread] 15 days speculative demand for spot prices has been stimulated
May 15,2020 18:57CST
The content below was translated by Tencent automatically for reference.

SMM5, March 15: the main force of this period of snail shock upward, slightly up 0.20%, the spot market was boosted, East China, North China and other places some traders rose slightly after noon, and Shaanxi, Jin, Ganchuan area due to steel mills raised ex-factory price 2050 yuan / ton, collective inflation. Transactions as a whole were significantly better than yesterday, but traders accounted for a large proportion of the total. [Hangzhou]: the spot price is still stable, Shagang mainstream 35503560 yuan / ton, Zhongtian thread 35303550 yuan / ton, Zhongtian pan screw 36403650 yuan / ton. Traders out of cost considerations, strong willingness to bid, transaction in general, low-price transactions, some large traders with strong resources still maintain good sales. [Shanghai]: the opening of spot prices was relatively stable, and some businesses increased by 10-20 yuan in the afternoon. Now, the price of thread sand steel resources is quoted to 3480-3500 yuan per tonne. The transaction at low prices is good, and more traders are replenishing their warehouses at low prices in the market. [Beijing]: thread opening is weak and stable, afternoon quotation rose slightly, now Hegang resources quoted to 34703480 yuan / ton, river steel plate snail quoted to 3710-3730 yuan / ton, transaction overall preference. [Guangzhou]: boosted by futures, the thread rose by 10 yuan / ton, the cold steel quoted 3670-3710 yuan / ton, and the disk snail ten thousand steel quoted 3720-3730 yuan / ton. The overall deal is good. [Chengdu]: thread Weigang resources rose 20 yuan / ton to 3700-3710 yuan / ton. Steel mills said that shipments were good, traders' transactions were significantly better than yesterday, and buying sentiment was exuberant.

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