Steel mill inventories stop falling and climb, steel prices may still fall
Date: 2021-12-31
Steel mill inventories stop falling and climb, steel prices may still fall
On December 30, the domestic steel market fluctuated weakly, and the ex-factory price of Tangshan Pu’s billet remained stable at 4270 yuan/ton. Black futures strengthened in the morning, but steel futures fluctuated lower in the afternoon, and the spot market remained quiet. This week, steel mill inventories stopped falling and rising.
On the 30th, the main force of snail futures fluctuated and weakened. The closing price of 4282 fell 0.58%, DIF crossed DEA downward, and the RSI third-line indicator was located at 31-46, which was close to the lower track of the Bollinger Band.
This week, the steel market fluctuated and operated weakly. In late December, a new round of cold wave hits, steel demand is becoming weaker and weaker, steel traders are afraid of high winter storage prices, and also inhibit their winter storage willingness. At the same time, some companies have plans to resume production because the steel mills are still profitable. This week, the pressure on supply and demand in the steel market has increased, steel mill inventories have stopped falling and rising, and steel prices have fallen under pressure.
Looking forward to the later stage, the pressure on supply and demand may further increase, and steel prices may still have room to fall. Once the winter storage price reaches psychological expectations, traders will also moderately replenish the inventory to support the price. In short, steel prices in January 2022 may show fluctuations and weaker movements.
Post time: Dec-31-2021
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