Steel mills have intensively increased prices, futures steel prices have risen by more than 2%, and
Date: 2021-12-27
Steel mills have intensively increased prices, futures steel prices have risen by more than 2%, and steel prices have been on the strong side
On December 16, the domestic steel market rose slightly, and the ex-factory price of Tangshan Pu’s billet rose by 30 to 4,360 yuan/ton. This week, steel stocks continued to decline, market resources were tight, and black futures rose strongly. Today, merchants took advantage of the trend to increase prices, but transactions performed generally.
On the 16th, black futures rose across the board. The main closing price of snails rose by 2.44%. DIF and DEA continued to rise. The RSI third-line indicators were located at 52-73, running close to the upper track of the Bollinger Band.
On the 16th, eight steel mills raised the ex-factory price of construction steel by RMB 10-50/ton.
The steel market fluctuated and strengthened this week. The Central Economic Work Conference was held in Beijing from December 8th to 10th, placing steady growth in a more prominent position. In addition, the central bank’s overall RRR cut was implemented on the 15th. The warmer macro policy boosted market confidence and the performance of the black futures market this week. Strong. At the same time, construction sites in the southern region are still rushing to work, steel demand is still resilient, and heavy pollution weather in the north is frequent, steel production continues to run at a low level, inventory depletion is smooth, and steel prices are supported.
Looking forward to the later stage, a new round of strong cold air will strike, and most of the central and eastern parts of China will cool by 6 to 10 degrees Celsius. As the winter deepens, the demand for steel is likely to weaken. At the same time, the current steel mills are profitable and supply tends to recover. However, under the constraints of staggered production in various regions, the expansion of production is not strong. In addition, entering the winter storage stage, upstream and downstream gaming will also disturb the market. In the short term, due to the continued decline in inventories and tight market resources, steel prices are showing strong volatility. However, the expectation of weaker demand in winter is still expected, which will restrict the room for steel prices to increase.
Post time: Dec-17-2021
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