On March 28, the domestic steel market generally rose, and the ex-factory price of Tangshan common billet rose 30 to 4,830 yuan/ton. Black futures rose across the board today, boosting market sentiment. However, affected by the epidemic, transactions in various markets were mixed, and the overall demand performance was acceptable.

On the 28th, the main force of the futures snail fluctuated and strengthened, and the closing price was 5032, up 2.11%. DIF and DEA both went up, and the RSI third-line indicator was at 62-79, running above the upper track of the Bollinger Band, entering the overbought area.

At present, the number of new local infections in my country is still at a high level, and the scope of the affected cities continues to expand. Shanghai, Tangshan, Northeast China and other places are strictly controlled, while Guangdong, Shenzhen, Shandong and other places have begun to resume normal production and life order. In the short term, the supply and demand of the steel market will continue to be suppressed, and the growth rate will be limited. However, the market expects that steel plants will gradually resume production in April, and the price of raw materials and fuels will run strongly, which will support the bottom of steel prices. Short-term steel prices may fluctuate strongly.