Iron ore fell by more than 3%, steel prices may be weak
Date: 2022-03-10
Iron ore fell by more than 3%, steel prices may be weak
On March 9, the domestic steel market fell mainly, and the ex-factory price of Tangshan billets fell by 30 to 4,760 yuan/ton. Merchants reported that the transaction performance was generally poor, with few terminal purchases, speculative sentiment receded, and the market had a strong wait-and-see mood. In the afternoon, the futures and the stock market fell further, and the market transaction declined significantly.
On the 9th, the black line went up and down, and the main iron ore contract dived at the end of the session. The closing price of the main rebar contract was 4907, down 1.49%, the DEA moved up towards the DIF, and the RSI three-line indicator was at 53-57, running between the middle rail and the upper rail of the Bollinger Band.
Due to the sharp rise in steel prices on Monday, the enthusiasm for downstream terminal purchases has declined significantly in the next few days. The Shanghai Futures Exchange and the Zhengzhou Commodity Exchange adjusted the margins and handling fees of several futures contracts, and reminded them to do a good job in market risk control, which intensified the wait-and-see sentiment in the market, and the speculative demand also cooled significantly. In the short term, steel prices may continue to fluctuate and adjust.
Post time: Mar-10-2022
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