Iron ore rose more than 4%, steel prices rose limited

On January 19, the domestic steel market mainly rose, and the ex-factory price of Tangshan billets rose by 50 to 4,410 yuan/ton. In terms of transactions, the trading atmosphere in the spot market was deserted, with terminal purchases sporadic, and individual speculative demand entering the market, and the overall transaction was average.

On the 19th, the closing price of the futures snail rose 3.02% to 4713, the DIF and DEA overlapped, and the RSI three-line indicator was located at 58-72, running between the middle rail and the upper rail of the Bollinger Band.

First of all, on the 18th, the heads of the National Development and Reform Commission, the central bank and other relevant departments successively released signals of steady growth, including moderately advancing infrastructure investment; China has less room for RRR cuts, but there is still some room for it, which will boost the market to a certain extent. Secondly, due to the severe epidemic situation in various regions recently, coal mine management and control policies have become stricter, and the iron ore port warehouse has declined. On the whole, good news and cost support have driven steel prices to rise again, but terminal demand continues to shrink before the holiday, steel prices are guarded against the risk of chasing up, and the shock pattern in the later period is difficult to change.

Post time: Jan-20-2022