Summary of SMM Steel Morning Meeting: Downward Trend in the Market and

Published: Aug 9, 2023 07:30

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Summary of SMM Steel Morning Meeting: Downward Trend in the Market and Low Transaction Volume. Yesterday, the main contract I2401 opened high and closed low, closing at 716, with a daily decline of 0.28%. Some traders adopted one-on-one negotiations; steel mills' wait-and-see sentiment intensified, and purchasing willingness decreased. Today, the overall transaction atmosphere is cold. PB powder transaction prices in Shandong are concentrated at 850 yuan/ton, up 8 yuan/ton from yesterday. PB powder transaction prices in Tangshan are concentrated at 835 yuan/ton, down 5 yuan/ton from yesterday. Today, the import volume of iron ore was announced, with a month-on-month decrease of 2.1% to 93.476 million tons...

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