The epidemic prevention and control in many places has been upgraded, and the price of steel may not rise.
Date: 2022-03-22
The epidemic prevention and control in many places has been upgraded, and the price of steel may not rise.
On March 21, the domestic steel market mostly rose, and the ex-factory price of Tangshan common billet was stable at 4,720 yuan/ton. Today’s steel market transactions are obviously not smooth, some areas are blocked by the rain and the epidemic, and the enthusiasm for terminal purchases is generally average.
On the 21st, the main force of the futures snail fluctuated within a narrow range, with the closing price of 4923 down 0.02%, the DIF and DEA tended to be parallel, and the RSI third-line indicator was at 54-57, running between the middle and upper rails of the Bollinger Band.
Many provinces and cities in China have upgraded and adjusted epidemic prevention and control, and the construction progress of downstream construction sites has slowed down, resulting in a decline in the transaction volume of the steel market. The impact on the production of steel mills is relatively small, but if the traffic control in Tangshan continues, it is not ruled out that the blast furnace plant will also reduce or stop production. In the short term, the fundamentals of supply and demand in the steel market are weak, and the cost support is strong. Before major favorable policies are introduced and the national epidemic is effectively controlled, steel prices may continue to fluctuate.
Post time: Mar-22-2022
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