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[selected SMM Weekly] the stock replenishment before the festival is not as good as the expected spot price consolidation next week.
Sep 26,2020 12:38CST
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Source:SMM
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 rolls this week have all continued their downward trend. Mainly due to the sharp decline in the outer disk and tension in relations across the Taiwan Strait at the beginning of the week, black commodities fell as a whole, and iron ore led the decline, dragging down the hot rolls. Market trading sentiment is not as expected, cautious wait-and-see mood is strong, causing hot volume spot prices to weaken sharply. Subsequently, market panic, boosted by tighter production restrictions on environmental protection in Tangshan and replenishment by cash companies, gradually calmed down, traders' shipments picked up slightly, and spot prices also showed a stabilizing trend.

The trend of the current market during the threaded period this week is weak. However, the futures market is affected by industrial news (such as production restrictions in Tangshan and coordinated production cuts in Shaanxi, Shanxi, Gansu, Sichuan, etc.) and the periphery (such as the stock market), while the spot market is falling in anticipation of a snail, and replenishment is less than expected before the festival. shrouded by cautious short sentiment, merchants take active shipping as the main "task", and prices are weakening all the way.

 

 

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