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[selected SMM Weekly] Iron and Steel prices are expected to be too volatile next week under the expectation of tighter production restrictions on environmental protection.
May 30,2020 10:16CST
translation
Source:SMM
[selected SMM Weekly report: steel prices are expected to be highly volatile next week under the expectation of tighter production restrictions on environmental protection] the current prices of this week's hot rolls have both pulled up, mainly boosted by the news of environmental protection production restrictions in Tangshan on Friday. The trend of prices in the threaded period is basically the same, and both show the situation of being weak at first and then strong. Under the "side effects" of the sharp rise last week, prices are now weak and consolidation at the beginning of the week, and the situation of shipments is not satisfactory.
The content below was translated by Tencent automatically for reference.

"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 current prices of hot volumes this week have both pulled up, mainly boosted by the news of environmental protection production restrictions in Tangshan on Friday. As far as SMM knows, affected by the high price callback at the beginning of this week, the actual terminal procurement mood is more calm, mostly on-demand procurement, prices are basically in a state of consolidation. Later, with the good performance of the hot volume, the market sentiment picked up somewhat, laying the groundwork for Friday's Tangshan environmental protection production restriction news to stimulate the price rise, so as soon as the production limit news came out on Friday, the market reacted quickly, the market continued to pull up, and the spot price also rose sharply.

The trend of prices in this cycle is basically the same, both showing the situation of first weak and then strong. Under the "side effects" of the sharp rally last week, prices are now weak at the beginning of the week, and the situation of shipments is not satisfactory. Stimulated by market rumors such as production restrictions in Tangshan today, prices are on the brink of increase, with snails rising by 2.49%, but the market is cautious about taking stock under the double worries of inventory pressure and the persistence of future demand, resulting in spot prices rising slightly, but the overall trading atmosphere is obviously warm.

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