Industry News

On the 4th, domestic steel prices are strong

On Monday, the national construction steel transaction volume monitoring data showed that the transaction increased significantly. Specifically, today’s morning futures fluctuated strongly and the market sentiment improved. Coupled with the rise in Tangshan billet over the weekend, the domestic steel prices partly strengthened in the morning. Among them, Hangzhou, Nanjing, Hefei and other regions increased significantly. In the afternoon, as futures continued to soar, spot market transactions improved significantly and speculative demand increased. From the current point of view, due to the recent increase in steel mill maintenance, thread output may be expected to decrease; early prices have fallen behind rapidly, and market panic has been released; at the same time, the recent price of raw materials such as coke continues to rise, and rising costs still support the spot.

From the perspective of transactions, the snails have returned to strong momentum, coupled with the release of terminal replenishment demand after the holiday, the market trading atmosphere has improved, and most regional merchants reported that the overall transaction volume was significantly higher today. At present, most construction sites in the north have been suspended, demand in the north continues to shrink, and demand in the south is still supported by the demand for rushing the construction period, but the trend of gradual weakening of the spot market demand is difficult to change. In terms of cost, the relatively strong operation of the raw material end in the short term will still support costs. In summary, it is expected that in the short term, domestic construction steel prices may stabilize and become stronger.

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