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[SMM thread] spot price continues to rise, market wait-and-see atmosphere is strong
May 19,2020 18:18CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

 

Today's futures open high and go high, repeating the situation in which yesterday's resonance rose sharply. By the close of trading in the afternoon, the snail rose by 1.42%, the spot prices rose simultaneously by RMB / t, and the national average price rose by RMB 43 / t. However, the trading situation did not continue yesterday's strong performance-the overall performance is significantly weaker. Among them, the terminal is still purchasing on demand, while speculative demand is calm after yesterday's outbreak, maintaining a wait-and-see attitude.

[Beijing]: today's spot price continues the increase of 70 yuan per ton of 50m / t yesterday, while the spot price of Heshan Iron and Steel Co., Ltd. is 3600m / t. Terminal demand is strong and although shipments are weaker than yesterday, they are still at the level of general preference.

[Hangzhou]: the trend of snails in this period continues to be strong, with the spot market continuing to rise by 40 yuan / ton, Shagang's mainstream report of 3650 lyrics, 3670 yuan / ton, and Zhongtian snail's 3760, 3780 yuan / ton. Due to the continuous sharp rise in prices, demand-side acceptance has weakened, traders high-price shipments are not smooth, the overall market transaction is general, low-price transaction is the main. At present, the overall market attitude is optimistic.

[Shanghai]: today's spot price has risen to 20mur30 yuan / ton, the current price raised by Shagang Resources Plant is 3590mur3,600 yuan / ton, and Hongtai's quotation is 3580 yuan / ton. Merchants generally feedback that shipments are deserted, and the turnover is obviously weaker than yesterday.

[Guangzhou]: today's spot price has risen by 30 murals and 50 yuan per ton. Cold steel quotation at 3800ml 3810 yuan / ton, the transaction performance is average, the afternoon quotation has been loosened, some merchants reduced 10 yuan / ton in order to close the deal.

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