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[selected SMM Weekly] after hot rolling, the spot price is expected to consolidate at a high level next week.
Jul 11,2020 12:03CST
translation
Source:SMM
[SMM Weekly selection: hot rolling shows weakness after rising spot prices are expected to be high next week] the spot prices of this week's hot roll period both rose strongly, and the spot once broke through the year-after-year high. no, no. However, the actual transaction after the rally is not ideal, the mood of terminal buying is not high, and the market is dominated by speculation.
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.

This week, the trend has been rising all the way, A-shares have reached a new high for the year, and the dividend from the capital market reform and continued active fiscal and monetary policies have led to a marked warming of the macro atmosphere, but by the end of the week, the stock market has cooled slightly due to excessive growth in the early period. affected by the warming of the financial market, the superimposed market bounced back and stored strong expectations for the demand after the rainy season, strengthened in the week, and the volume of spot speculative transactions increased sharply. However, due to the weak fundamentals affected by rainfall still exist, strong expectations are slightly weak at the end of the week.

This week, hot-rolled spot prices both strongly pulled up, and the spot once broke through the new high after the year. Capital flooded into the stock market at the beginning of the week, with the Shanghai Stock Exchange surging as high as 3456 yuan, triggering expectations of an overall bull market. Black futures are stimulated by positive sentiment, driven by superimposed capital, and then strongly pull up. Spot in the fundamentals are still good support, but also not to be outdone, rising synchronously with the market. However, the actual transaction after the rally is not ideal, the terminal buying mood is not high, the market is mainly speculative restocking, the spot price then also entered the horizontal market shock stage.

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