Iron ore soared by 5%, steel prices may be difficult to rise near winter storage
Date: 2021-12-14
Iron ore soared by 5%, steel prices may be difficult to rise near winter storage
On December 13, the domestic steel market prices went up and down, and the price of Tangshan Pu’s billet rose by 20 to RMB 4330/ton. The black futures market is strong, and the spot market is fair.
On the 13th, black futures varieties rose across the board. The main snail futures closed at 4415, up 2.51% from the previous trading day. DIF and DEA went both ways, and the RSI third-line indicator was at 54-63, moving toward the Bollinger Band.
On the 13th, 3 steel mills across the country raised the ex-factory price of construction steel by 20-50 yuan/ton; 4 steel mills lowered the ex-factory price by 20-50 yuan/ton.
With the strengthening of futures snails, spot prices have also followed up. Low-level transactions have increased and market confidence has recovered. At present, there are not many saleable resources in the hands of merchants. Under the rising price market, merchants still rely mainly on shipments to cash in profits. With the subsequent cooling of the weather and the arrival of the Spring Festival, the trend of weakening demand is difficult to change. At present, it has entered the stage of winter storage. The proportion of completed construction sites in the main demand areas in East China and South China is gradually increasing, and terminal demand may hardly pick up. It is expected that the price of domestic construction steel materials may slow down in the short term.
Post time: Dec-14-2021
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