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[SMM Weekly selection] can the "Golden Nine and Silver Ten" come to the steel market as scheduled and whether the "good start" is sustainable?
Sep 5,2020 13:17CST
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Source:SMM
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"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 the threaded period this week is strong, the commodity market is linked up at the beginning of the week, and the current price of the threaded period is also synchronously stepped to a new level. On Monday, both of them rose to about 30 yuan / ton, and the trading atmosphere of the market was extremely high on the same day. Then it entered a period of moderation and consolidation after a strong trend, showing a trend of strong shock as a whole. The market atmosphere has also gradually calmed down. However, affected by the collapse of the outer disk on Friday, the snail plunged rapidly, and the spot market was dragged down by this. The prices of the mainstream markets fell by 10-20 yuan / ton, and the market was more cautious and wait-and-see.

The current prices of hot rolls this week all showed a trend of rising first and then falling, and both closed higher as of Friday. Since the end of last week, the steel market began to brew the mood of environmental protection and production restrictions. At the beginning of the week, the black department pulled up across the board, driving a positive market mood, the overall trading atmosphere was more active, and spot prices also rose sharply. However, as the news hype dissipates and returns to reality, the fear of heights at the terminal becomes more and more intense, the purchasing enthusiasm is greatly reduced, and merchants' shipments are blocked. Combined with the negative interference of the external market, the spot price has fallen.

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