Iron ore coke futures rose more than 4%, steel prices fluctuated strongly

Iron ore coke futures rose more than 4%, steel prices fluctuated strongly On April 12, the domestic steel market prices were mixed, and the ex-factory price of Tangshan ordinary billet rose 30 to 4,760 yuan/ton. With the strengthening of the futures market, the spot market price followed up, the market trading atmosphere was good, and the transaction volume was heavy. On the 12th, black futures strengthened. The closing price of the main contract of the futures snail was 5035, up 2.19%, the DEA moved closer to the DIF, the RSI third-line indicator was located at 55-57, and the middle rail of the Yan Bollinger Band was running upwards. Due to the repeated domestic epidemics, logistics in many places were blocked, which also affected the circulation of the steel market, causing great resistance to delivery. On the 11th, multiple departments issued documents to ensure the smooth flow of freight and logistics. In addition, the recovery of financial data in March reflects the strength of monetary and fiscal policies, which has a certain boosting effect on market confidence. Driven by the strengthening of the black futures market today, the market mentality has recovered, and some spot prices have stopped falling and rose. In the short term, the fundamental pressure on the supply and demand of the steel market is too large, the policy side is warmer, and the steel price or the shock is too strong. Post time: Apr-13-2022