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[SMM thread] the logic of production restriction leaves, and the spot price weakens at the same time.
May 20,2020 18:18CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 20 News: due to Tangshan billet rolling mill production restrictions relaxed news, today's futures trend is weak. National thread spot quotation in the day gradually moved down more than 10mur40 yuan / ton, transactions, low prices of some traders out of stock, the terminal is mainly wait-and-see, the overall transaction is generally weak. [Hangzhou]: affected by the weakening of futures, the spot market price is stable and weak. Shagang has lowered 10 yuan / ton to 3640 RMB3650 / ton, and Luoshi in Zhongtian market has been quoted at 3760 RMB3780 / ton. the overall market transaction is general, and terminal procurement is cautious. Some traders secretly dropped 10 RMB20 / ton in order to facilitate delivery. [Shanghai]: the spot price of thread is weak and stable. The current spot price of Shagang resources is 3580Mir 3600 yuan / ton, and the price of Panluo Shagang is 3680Mel 3700 yuan / ton. The transaction is relatively quiet, and the volume of speculation and terminals has shrunk. [Beijing]: the resources of Thread River Steel are temporarily stable, quoted at 3610 won 3640 yuan / ton, Panluohe Steel 3800Mu 3810 yuan / ton, the overall transaction is generally weak. [Guangzhou]: the quotation is weak and stable, the price of threaded cold steel is 3840Mel 3860 yuan / ton, and that of Panluwan steel is 3900 yuan / ton. Trading is further weaker than yesterday, and the market mentality tends to be cautious. [Chengdu]: the distribution resources of the Thread Weigang plant slightly loosened 10 won 20 yuan / ton, recovering yesterday's increase to about 3800 yuan / ton. The deal was OK, while the electric furnace resources were deserted, and there was a certain deal after more hidden drops.

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