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[selected SMM Weekly] the pace of the two sessions is approaching. Spot prices of hot rolls next week are expected to have room to rise.
May 16,2020 10:44CST
translation
Source:SMM
[SMM Weekly selection: the pace of the two sessions is approaching next week hot roll spot prices are expected to still have upward space] Thread this week is now a narrow range of shocks. Futures have gone through two ups and downs during the week, the long-short game is fierce, and spot prices rise and fall slightly all over the country; hot-rolled current prices all show an upward trend this week. For the first time this year, spot prices of hot rolls have surpassed those of futures. This is mainly due to the gradual weakening of the support for macro-positive stimulus and marginal improvement in fundamentals this week.
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"SMM Steel Industry chain Weekly report" released, the weekly report SMM will select one of the hot topics, prices, market or major changes in the industry chain information released into a document for your reference.

The thread fluctuates in a narrow range this week. Futures rose and fell twice during the week, the long-short game was fierce, the spot rose and fell slightly all over the country, there was no obvious unilateral market, the trading situation continued to be lukewarm, and it strengthened with the futures shock on Friday, as well as the joint bid-up prices of steel mills in some areas, the market atmosphere has warmed up.

The current prices of hot rolls this week are all on an upward trend. For the first time this year, spot prices of hot rolls have surpassed those of futures. Mainly due to the gradual weakening of the support for macro-positive stimulus and marginal improvement in fundamentals this week, the optimistic expectations of the superimposed market have been released almost on the disk, so the performance of the futures market is weaker than last week. However, the spot market is supported by terminal demand, the range of warehouse reduction is wider, the mentality of traders is improving, and the willingness to raise prices is enhanced, so the performance of the spot market is stronger than futures this week.

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