Publicado: Oct 11, 2023 17:56
According to SMM, today's futures continued to be low, affected by macro news, the late market fluctuated widely, and finally closed at 3619, down 0.17% from the previous trading day. The spot market price was stable throughout the day. On the supply side, according to SMM tracking and research, the national electric furnace steel plant start-up rate this week was 35.47%, a decrease of 4.76 percentage points from the previous week, and the instantaneous profit turned negative again, and the start-up rate obviously decreased, and the supply was expected to be reduced. On the demand side, steel prices fluctuated at a low level, market sentiment cooled down, trading atmosphere was general, and regional transactions were restricted by some steel mills' joint limit pricing policies, and transactions were cold and clear. Looking ahead, according to the instructions of the macro conference, in order to actively prepare for the peak winter, there is an expectation of increased coal production and supply, and the cost collapse risk will be further intensified; however, the contradictions in building materials are not prominent, and the overall supply and demand are still weak. In the short term, although there is an expectation of further bottom exploration of steel prices, the downside space is limited.

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According to SMM, today's futures continued to be low, affected by mac - Shanghai Metals Market (SMM)