SMM Steel Morning News Summary: Raw materials leading the way? Futures

Published: Jan 17, 2024 07:35

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SMM Steel Morning News Summary: Raw materials leading the way? Futures rebound in the afternoon.

Iron ore: Yesterday, the iron ore market showed a weak and volatile trend throughout the day, with the main contract I2405 closing at 938.5, down 0.64% for the day. The enthusiasm of traders for shipping was moderate...

Coke: Overall, coke producers have a strong reluctance to continue lowering prices, but the supply and demand for coke remains loose, and some coke producers have accumulated stocks. Steel mills still have downward pressure on coke prices, and the short-term coke market may...

Rebar: Looking ahead, on the raw materials side, influenced by coal mine accidents and the upcoming holiday, coke led the rebound in the afternoon, which may have an impact...

Hot-rolled coil: Overall, the contradiction in the fundamentals of hot-rolled coil will continue to accumulate, but with stable support from the raw materials side, coupled with yesterday's market news of China's plan to issue special government bonds...

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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