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[SMM Weekly selection] what about the steel price next week?
Jul 25,2020 11:40CST
translation
Source:SMM
The current price trend of this week's threaded period is not in line with each other. Spot prices are subject to the suppression of high inventories and high-cost stack to strengthen the support of expectations, up and down dilemma, narrow fluctuations. Futures continue to strengthen under the guidance of strong expectations. Then tensions between China and the United States escalated in half a week. Following the forced "eviction" of the Chinese consulate in Houston by the US side, China asked the US side to evacuate the consulate in Chengdu on Friday, causing the capital market to float green and the snail to dive.
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 price trend of this week's threaded period is not in line with each other. Spot prices are subject to the suppression of high inventories and high-cost stack to strengthen the support of expectations, up and down dilemma, narrow fluctuations. Futures continue to strengthen under the guidance of strong expectations. Then tensions between China and the United States escalated in half a week. Following the forced "eviction" of the Chinese consulate in Houston by the US side, China asked the US side to evacuate the consulate in Chengdu on Friday, causing the capital market to float green and the snail to dive.

 

The current prices of hot rolls this week are all in a volatile trend. Recently, the domestic macro side is good, superimposed at the beginning of the week iron ore and other raw materials rotated to stimulate, the overall black performance is more excited. However, compared with the hot futures market, the hot spot market appears to be relatively deserted, the spot price is insufficient with the rising power, and there is no volume phenomenon in the market transaction. Superimposed in the past two days, the friction between China and the United States escalated again, the stock market futures market was dragged down, and the market mentality weakened, so the overall spot market performance was lower than expected, mainly with shocks.

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