Black futures rose across the board, and the rebound in steel prices may be limited

Black futures rose across the board, and the rebound in steel prices may be limited On March 16, the domestic steel market was mixed, and the ex-factory price of Tangshan billets rose 40 to 4,680 yuan/ton. In terms of transactions, as the futures snails rose sharply due to the macro news, steel mills in some areas actively pushed up the market, the mentality of merchants improved significantly, the market trading atmosphere was strong, and speculative demand increased. The recent impact of epidemic prevention and control has continued. Some steel mills in Liaoning and Jilin are under-saturated production, and the impact on the shipment of finished products is even more obvious; most steel mills in Shandong organize production in an orderly manner, but all face transportation difficulties; all steel mills in Anhui are in normal production. , On the 15th, some warehousing and logistics in Maanshan have been restored; Guangdong steel mills basically require nucleic acid test certificates for incoming vehicles, and the scrap steel market resources cannot be circulated normally. At the beginning of the year, China’s economic recovery was better than expected, and investment and production in infrastructure and manufacturing accelerated. Despite the sluggish real estate sales, housing prices in first-tier cities have taken the lead in stabilizing. At the same time, the Financial Committee of the State Council made a strong statement today, sending a clear signal of stabilizing the macro economy, stabilizing the financial market, and stabilizing the capital market, which will help boost market confidence and stabilize market expectations. Considering that localities continue to strengthen epidemic prevention and control, the steel market trading volume is still affected, and short-term steel prices may fluctuate strongly. Post time: Mar-17-2022