Steel mills cut prices on a large scale, short-term steel prices may not fall
Date: 2022-03-11
Steel mills cut prices on a large scale, short-term steel prices may not fall
On March 10, the domestic steel market generally fell, and the ex-factory price of Tangshan common billet fell by 40 to 4,720 yuan/ton. The international crude oil and non-ferrous metal prices fell sharply on the 9th, causing the domestic black commodity futures market to open sharply lower in the early trading of the 10th, and the decline narrowed in the afternoon, and the low-level transaction was better.
On the 10th, the main force of the futures snail fluctuated weakly, the closing price was 4896, down 0.97%, the DIF was close to DEA, and the RSI third-line indicator was at 52-55, running between the middle and upper rails of the Bollinger Band.
Looking forward to the later period, the international situation, domestic regulatory measures, and changes in the fundamentals of supply and demand will cause disturbances to steel prices, and the market is complex and changeable. As the average price of some steel varieties has basically returned to the level of last Friday, today’s low-price transactions have improved, the previously suppressed demand has gradually been released, and the steel inventory may further decline. Short-term steel prices are expected to stop falling.
Post time: Mar-11-2022
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