Short-term steel price gains are blocked
Date: 2022-04-08
Short-term steel price gains are blocked
On April 7, the domestic steel market fluctuated weakly, and the ex-factory price of Tangshan common billet fell by 20 to 4,860 yuan/ton. Inventory further accumulated during the Qingming holiday, but the actual demand was lower than expected, and prices in some areas with high inventory pressure fell.
On the 7th, the main force of the futures snail fluctuated downward, the closing price fell 1.23% to 5070, the DIF moved down to the DEA, and the RSI three-line indicator was at 61-64, running between the middle and upper rails of the Bollinger Band.
Looking ahead, the steel market is still in a pattern of strong expectations and weak reality. On the one hand, it is expected that the policy of stabilizing growth will increase. Once the epidemic is effectively controlled, the fundamentals of supply and demand in the steel market will improve, which will support steel prices. On the other hand, based on the current instability of demand, the uncertainty of the domestic epidemic situation and the international geopolitical situation, there is also a cautious mood in the market optimism, which will restrict the room for steel prices to rise.
Post time: Apr-08-2022
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