Steel stocks are rising, steel prices are difficult to continue to rise
Date: 2022-06-07
Steel stocks are rising, steel prices are difficult to continue to rise
On January 6, the domestic steel market mainly rose slightly, and the ex-factory price of Tangshan billet rose by 40 to 4,320 yuan/ton. In terms of transaction, the transaction situation is generally general, and the terminal purchases on demand.
On the 6th, the closing price of snails 4494 rose 1.63%. DIF and DEA overlapped. The three-line RSI indicator was located at 53-69, running between the middle and upper tracks of the Bollinger Band.
On the supply side: According to Mysteel’s research, the output of large-variety steel products this Friday was 9,278,600 tons, an increase of 236,700 tons on a week-on-week basis.
Demand side: The apparent consumption of large varieties of steel this Friday was 9.085 million tons, an increase of 36,500 tons on a week-on-week basis.
In terms of inventory: this week’s total steel inventory was 13.1509 million tons, an increase of 193,600 tons on a week-on-week basis. Among them, steel mill inventories amounted to 4,263,400 tons, an increase of 54,400 tons on a week-on-week basis, and increased for two consecutive weeks; the social stock of steel was 8,887,500 tons, an increase of 139,200 tons on a week-on-month basis.
As the Spring Festival approaches, demand may become weaker, and the steel market has entered a stage of pre-holiday accumulation. my country’s coal supply and price stabilization work will be further promoted, and it should not be overly bullish on coal prices. The upward movement of steel costs may be difficult to continue to push up steel prices, and the market will fluctuate in the short term.
Post time: Jan-07-2022
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