Summary of SMM Steel Morning Meeting: Macroeconomic Optimism Continues

Published: Nov 13, 2023 07:45

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Summary of SMM Steel Morning Meeting: Macroeconomic Optimism Continues, Hot Coil May Fluctuate at High Level Next Week. Recently, the Tangshan Iron Powder market has been generally stable. It is understood that provincial and municipal inspection teams have come to inspect the safety of mining production, local control has been tightened, some selected factories have received verbal notices to shut down, and overloaded vehicles are not allowed on the road, and the market atmosphere is cold. Local iron powder resources remain tight and the miners are in a wait-and-see mood. At present, the price of iron powder has reached the mid-year high, steel mills are reluctant to purchase at high prices, mostly on demand, and the willingness to reduce prices is strong. It is expected that local ore prices will remain in a high fluctuation.

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