On March 17, the domestic steel market generally rose, and the ex-factory price of Tangshan common billet rose by 20 to 4,700 yuan/ton. Affected by the sentiment, today’s steel futures market continued to strengthen, but due to the frequent occurrence of domestic epidemics, the steel market turnover fell again.

On the 17th, black futures rose across the board. Among them, the futures spiral opened higher and fluctuated, the closing price was 4902, up 1.74%, the DIF moved up and moved closer to DEA, and the RSI third-line indicator was at 54-56, running between the middle and upper Bollinger bands.

This week, the steel market prices showed a trend of first decline and then rising. In the first half of the week, due to the strengthening of epidemic prevention and control in various places, logistics and transportation in some areas were blocked, and the construction progress of construction sites slowed down, resulting in a decline in the transaction volume of the steel market, while the impact on the production of steel mills was limited, and the pressure of supply and demand increased to put pressure on steel prices. In the second half of the week, as the Financial Committee of the State Council sent a clear signal of stabilizing the macro economy, stabilizing the financial market, and stabilizing the capital market, the steel futures and spot markets rebounded simultaneously.
Looking forward to the later period, the current round of the epidemic has not yet ended, the actual demand of downstream terminals is still weak, and the weak supply and demand fundamentals of the steel market will be difficult to change. It is difficult to continue to promote the rebound of steel prices only by relying on market confidence. Focus on the domestic epidemic situation, possible policies to stabilize growth and changes in the international situation.