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[SMM thread] an ordinary day.
Jul 14,2020 18:17CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

 

Today, the performance of the thread futures market is relatively stable, showing a trend of weak at first and then strong as a whole. In early trading, the spot market followed the weakness of the futures market by 10 murals and 20 yuan per ton, and the transaction was also relatively desolate. In the afternoon, as the snail noodles turned red again, some markets (such as Hangzhou) actively rose 10 yuan / ton, but the shipping situation was also unsatisfactory. Under the condition that terminal demand is still disturbed by seasonal factors, speculative demand supported by strong expectations is difficult to sustain trading volume.

[Hangzhou]: the spot market price was mainly stable this morning, but the transaction was relatively poor, and the mainstream transaction price was slightly reduced by about 10 yuan per ton around noon, which still failed to significantly drive the transaction. The willingness of most traders to raise prices is strong, and the overall market trading atmosphere is relatively desolate. Futures rebounded sharply in late trading, stimulating market sentiment, low-price transactions have improved, some traders have a strong willingness to push up prices, spot quotations actively follow the rise of 10 yuan / ton, after the increase in prices, the transaction situation is general, the overall trading throughout the day is general.

[Beijing]: the thread is stable, the resources of Hegang is 3710mur3720 yuan / ton, the plate is stable, and the resources of Hegang is 3790Mur3820 yuan / ton. Trading than yesterday's deviation, the market mentality is more stable.

[Shanghai]: the spot price of thread is reduced by 20 yuan / ton, and the current Shagang resource is 3590Mub 3600 yuan / ton. It is also difficult to close a deal at a low price, and the overall shipping situation is weak.

[Guangzhou]: the thread quotation has been raised by 30 yuan per ton for threads and 3930 yuan per ton for cold steel. The performance of local market demand is relatively bright, and the smooth release of demand and the continued rise in prices complement each other.

[Chengdu]: the transaction price of Chengdu Weigang held steady at 3710 RMB3730 / ton, and the easing of rainfall led to good construction on the site and improvement of transportation conditions. Traders reported that the goods were shipped steadily today, and the transaction was OK. [SMM Steel]

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