According to SMM tracking, today's futures are running at a low level,

Published: Oct 9, 2023 18:04

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According to SMM tracking, today's futures are running at a low level, closing at 3638, down 1.68% from the previous trading day, and spot market prices have fallen by 10-50 yuan/ton. On the demand side, the news is flat during the day, the market sentiment is cooling down, the terminal procurement continues the on-demand strategy, the trading atmosphere is general, and the transaction is weak throughout the day. Looking ahead, downstream demand is limited during the holidays, manufacturers' shipment rhythm has obviously slowed down compared with the same period, inventory has accumulated, the basic contradiction of building materials has been slightly highlighted, and the cost support is insufficient, coupled with the external environment is not optimistic, and the expectation of Fed rate hike. At present, the market is bearish, under the influence of multiple factors, short-term steel prices may be volatile and downward.

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