On March 24, the domestic steel market generally rose, and the ex-factory price of Tangshan common billet was stable at 4,750 yuan/ton. Due to the sharp rise in global commodity prices on Wednesday, which stimulated the price increase of black futures at night, the steel market followed suit in early trading on Thursday, but the transaction fell significantly after the rise.

On the 24th, the main force of the futures snail increased by 0.39% at the closing price of 4945. 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.

At present, the steel market situation is complex and changeable, and the domestic epidemic situation and the international situation are still the biggest disturbance factors. On the one hand, as the domestic epidemic has not yet seen a clear inflection point, both supply and demand in the steel market have been impacted, and steel prices lack confidence. On the other hand, global commodity prices have risen again recently, coupled with the rise in overseas steel prices, domestic steel mills are generally better in receiving export orders, and steel mills are more confident in price support. In the short term, there are many uncertainties in the market, and steel prices may fluctuate strongly.