Domestic steel market rises mainly

Domestic steel market rises mainly On February 9, the domestic steel market mainly rose, and the ex-factory price of Tangshan billet was stable at 4,670 yuan/ton. Today, the trend of spot and futures in the black market showed a “split”. The main force on the raw material side was greatly weakened by the news, and the performance of the spot side was relatively strong. It is expected that the construction of newly started projects will accelerate in the first quarter of this year, the demand will gradually recover after the holiday, and the market sentiment is optimistic, pushing up the black commodity futures market. However, with the rapid rise in the futures prices of raw materials such as iron ore and coal, the market sentiment tends to be cautious. After all, during the Winter Olympics, the environmental protection and production restrictions of northern steel mills were strict, which did not support the continued surge in raw and fuel prices. Although it is expected that the supply and demand fundamentals of the steel market will be preferred after the holiday, the rapid rise will also lead to adjustment risks. Out of a cautious attitude, the rise in steel prices slowed down in the second half of the week. Post time: Feb-10-2022