[SMM thread] spot price continues to rise, market wait-and-see atmosphere is strong

Published: May 19, 2020 18:18

 

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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[SMM thread] spot price continues to rise, market wait-and-see atmosphere is strong - Shanghai Metals Market (SMM)