Shagang’s price is high, futures steel is up 2%, and steel prices are limited.
Date: 2022-06-12
Shagang’s price is high, futures steel is up 2%, and steel prices are limited.
On January 11, the domestic steel market price fluctuated within a narrow range, and the ex-factory price of Tangshan common billet remained stable at 4,370 yuan/ton. Steel and iron ore futures strengthened in late trading today, driving up spot prices of some steel varieties, but transactions were limited after the rise.
On the 11th, black futures were mixed. The main futures closed at 4589, up 2.00% from the previous trading day. DIF crossed up at DEA, and the RSI three-line indicator was at 61-71, running toward the upper Bollinger Band.
Conch fluctuated throughout the day and rose late in the session, but market transactions were relatively light. In the near future, the rising of raw materials has squeezed the profits of steel mills. It is unlikely that steel companies will cut prices. The spot price is in a dilemma. On the whole, it is expected that the national steel price will be mainly consolidated on the 12th.
Post time: Jan-12-2022
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