Steel prices are on the strong side

Date: 2022-04-02

Steel prices are on the strong side On April 1, the domestic steel market mainly rose, and the ex-factory price of Tangshan billets rose by 30 to 4,860 yuan/ton. In terms of transactions, the market’s mentality has improved, the terminal stocking demand before the holiday has emerged, and the speculative demand has been further released. The transaction throughout the day was significantly better than the previous trading day. On the 1st, the closing price of the main rebar contract was 5160, up 1.96%, DIF and DEA were parallel, and the RSI third-line indicator was at 66-85, running above the upper track. Recently, Shanghai, Xuzhou, Wuxi, Jiaxing and other places have also escalated their control due to the epidemic situation, while Fujian, Guangdong, Hebei Tangshan, Liaoning Dalian and other places have been unblocked one after another. However, the decline in steel inventories has expanded this week, and the market expects that demand will further pick up in April. In addition, Shagang’s ex-factory price of rebar in early April is 100 yuan/ton, and the market’s mentality favors the strong operation of steel prices. Post time: Apr-02-2022

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