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Steel prices rebound in stages

Views:1     Author:Site Editor     Publish Time: 2020-08-07      Origin:Site

    The steel market has shown signs of rebounding recently after a long period of downturn. On August 3, the domestic construction steel prices rose slightly, and 22 construction steel production companies raised their ex-factory prices by 10-100 yuan/ton. The spot price of steel products in the relevant period also rose continuously. According to statistics from the Securities Times, the futures prices of Thread 2107, Thread 2101, Thread 2011, etc. have all reached new highs recently. Taking the Thread 2103 futures contract as an example, its latest price has rebounded more than 22% from the low point in the year.

    The resonant rise in futures spot prices boosted market confidence. Most businesses reported that speculative demand in the market was significantly higher, and downstream procurement demand also improved. At present, the recent macroeconomic expectations are relatively warm. At the same time, the plum blossoms in East China and the Yangtze River are expected to improve. It is expected that domestic construction steel prices will continue to rise in the short term. At the same time, considering the excessive price increase in some regions and the recent weather In the heat, it remains to be seen whether terminal demand can continue to increase in volume. If the transaction fails to follow up, the room for prices to rise may be relatively limited.

    The steel market achieved a "good start" in August, and the futures market has risen simultaneously. Industry analysts believe that, from the perspective of leading indicators such as manufacturing PMI and excavator sales, China's economy continues to improve. The market expects steel demand to pick up in August, and emotional preference pushes up steel prices.

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