Comment On Steel Prices: Short
On 22 of the rebar futures finished lower, main contract early 1010 to 4,750 yuan / ton to open lower, after the price to 4,767 yuan will be washed along the way, followed by shock drop the price once before the close of diving, to 0.44% of the rate of late income fell to 4,734 yuan / ton, higher than the previous day (21) settled down 21 yuan / ton, volume was 1,372,024 hand, hand positions to 1,370,598. Wire 1005 main contracts to 4,392 yuan / ton, slightly lower opening, opening quickly washed to the highest price of 4,426 yuan / ton, followed by short pressure, prices tumbled all the way near the close of the afternoon, long once again pulled up the price, but was quickly beat a retreat, eventually fell to 0.16% of rate income 4,402 yuan / ton, compared with the previous day (21) settled down 7 yuan, trading volume was 1,532 hands, hand positions to 8,168.
Frequently by the state regulation of the real estate market, the impact of policies, the overall atmosphere of the most recent bearish steel, but the high cost of support by the spot, not much room down the range. If there are no new fundamentals in the recent boost steel prices, short-term prices will remain at a low ebb. The key 4,700 support level of support, but the short-selling pressure is still below the run around 4,800.
Following the three mines, the original position in a “neutral” status of Australia’s third largest iron ore exporter to China FMG finally “move against”, announced to “link with the market,” the price system. So far, China’s main long association mining suppliers have all expressed support for flexible pricing.
Domestic Steel Stock market quotes 22 main stable, which Building Steel prices slightly loose, the Beijing market Shougang 8-10 mm high price of 4,530 lines yuan / ton, 2 rebar from 18 to 25 mm standard price of 4,680 yuan / ton, down 30 yuan / ton; Chongqing diameter heavy steel market 18-25 mm 2 in 4,730 threads mainstream offer yuan / ton, from 6.5 to 8 mm high-line market, and prices for 4,730 current yuan / ton, price stability. In addition, the thermal paper market prices stable and inched up, Hangzhou market sand steel from 4.75 to 11.5 mm size Price mainstream in the 4,620 yuan / ton, through steel 2.75 mm size Price mainstream in 4,700 yuan / ton. Plate mainstream smooth, Tianjin market days of steel plate 10 mm in the mainstream of general price 4,850 yuan / ton, from 16 to 20 mm size of the price of 4,700 yuan / ton; cold-rolled market remains stable, the Shanghai market, 1.0mm cold plate Angang Price in 6,130 yuan / ton, from 1.2 to 2.0 mm cold plate Iron and Steel production for the 6,100 to 6,130 mainstream price yuan / ton.
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