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Steel industry chain reply slowly, storage shelves are expected to rise

by:Hshelf     2020-11-14
Steel industry chain reply slowly, storage shelves'> storage shelves last week, is expected to rise concussion uplink, steel futures on because the news is on the decline, such as the federal reserve to raise interest rates of the early market short profits, steel prices sharply upward, but steel mills and production still have concerns, high and volatile prices, after the limit production delay, steel price sideways concussion. During the high water after back on Monday, cold roll spot have fall adjustment in advance, such as continued weakness on Tuesday, has fallen below 20 daily average lines, varieties of bull flag rebar short-term steel into the adjustment as a whole. But considering the high spot of futures premium, and the spot position, long strong plate weak situation will continue, but the overall downward space is limited. Total steel stocks continued to decline, according to the peak season demand still smooth. On March 17, rebar latest inventory to 753. 120000 tons, dropped 28. 170000 tons, fell by 120 last month. 560000 tons. Hot rolled coil plate on Friday the latest inventory to 308. Week of 190000 tons, from 2. 460000 tons, 26 was increase over the same period last month. 450000 tons. Steel inventories decline for 4 weeks, but hot rolled stock yoy increase continuously, according to the supply pressure is still large. It is also hot rolled coils, cold rolled steel couldn't get on the main reason for the price. Scrutinize steel inventories, threaded futures prices last week there is high pressure, near 3600 at the same time the price of spot market acceptance sheet after class, have a downward trend. But in the rebar inventories decline, the overall steel inventories still fell, but fell less than expected. At the end of the CPPCC, the release of northern construction site requirements on the inventory data, did not. Steel futures on the spot discount overall narrowing, but with the recent slashing, basis again. Discount 1705 main rebar contract on the spot price 376 yuan/ton, distance years basis high step; Hot rolled coil plate main 1705 contract for the spot price discount 127 yuan/ton, the normal level in years. National overall profit surface of steel from the previous week 0. 61% to 88. 34%, blast furnace starts from the previous week 0. 28% to 75. 83%, as of April and production capacity of 10. 53 million tons. High-margin production, production continues to increase, short-term supply pressure continues to increase. In general, the demand of inventory data reflect less than expected, still need time to test and verify. And basis began again, short-term downside space is limited, feared the thread basis according to their highs only one step away, long strong plate weak situation will continue. Steel tap main rebar futures technology below 20 daily average lines, short-term adjustment is inevitable. With a new round of nationwide environmental protection supervision start, as well as the northern area downstream end demand gradually start, steel prices still have upside.
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