Steel prices continue to be weak
Date: 2021-12-30
Steel prices continue to be weak
On December 29, the domestic steel market fell mainly, and the ex-factory price of Tangshan billet was lowered by 20 to 4270 yuan/ton. In terms of transactions, the snails continued to decline, leading to a downturn in business mentality, a quiet market trading atmosphere, a noticeable slowdown in the pace of terminal purchases, and very little speculative demand.
On the 29th, the closing price of snails 4315 fell 0.28%, DIF and DEA overlapped, and the three-line RSI indicator was located at 36-49, running between the middle rail and the lower rail of the Bollinger Band.
In terms of industry, the Ministry of Industry and Information Technology and other departments issued the “14th Five-Year Plan” for the development of the raw material industry. The development goals include: by 2025, the production capacity of key raw material and bulk products such as crude steel and cement will only decrease but not increase, and the capacity utilization rate will remain at a reasonable level. The comprehensive energy consumption per ton of steel in the iron and steel industry has been reduced by 2%.
According to a survey of 237 traders, the trading volume of building materials this week and Tuesday was 136,000 tons and 143,000 tons, respectively, which was lower than the average daily trading volume of building materials of 153,000 tons last week. The demand for steel has shrunk further this week. Under the circumstance that there is little expected supply change, the destocking of steel mills is hindered, and steel prices continue to fluctuate and run weakly.
Post time: Dec-30-2021
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