Futures steel prices continue to fall
9 11, China's largest Rebar Production enterprises in Jiangsu Sha Steel Group reduced ex-factory prices of some products in mid-September, beginning with the September 1 implementation of the price comparison High Line Price reduced to 100 yuan / ton; rebar prices down 100 yuan / ton; excellent hard-line prices down 500 yuan / ton; volume superior line of tape down the price 400 yuan / tons.
Affected, rebar futures, wire futures continued to fall. 912 rebar futures contract fell 1.8% compared with the previous day to close at 3,972 yuan. Cable 911 futures contracts showed a lesser, or only 0.97%.
At present, the main contract positions rebar up to 771,000 hands, at a high, long and short market, fierce fighting. Reflect a futures investor told reporters: "At present prices, not empty space, not much more, can only wait and see wait for the main financial Powei, and then to seek opportunities."
Tiangang Feng Hai Tong futures analyst, said in an interview: "Sha Steel price cut is less than I expected, I had expected the price rises 200 yuan." Famous steel stock trading platform?? West of the Shinkansen Chief Investment Officer Shengzhi Cheng said: "Sha Steel now from 14 to 25 mm in diameter HRB335 rebar prices to 3,700 yuan / ton from 14 to 25 mm in diameter HRB400 rebar prices to 3,820 yuan / ton, are also higher than market price high of 100 to 150 yuan or so. "
Market participants have expected steel price adjustment is not in place, steel prices have dropped room. Tiangang Feng predicts the short term, steel prices will fall, are seeing lows 3880 yuan.
Shengzhi Cheng said: "8 is a high monthly output, these outputs need to digest the market then." Tiangang Feng said: "Next, the steel market will certainly have to undergo a painful 'to stock' process. has already begun arrangements for maintenance of some steel mills had cut production, prices fall cycle is steel cut trick. "
However, despite the recent increase in steel production line maintenance information, but the contradiction between supply and demand in the short term are still very conspicuous. Shengzhi Cheng said: "inventories rose is not over, the pressure in the huge inventory have not been substantive digest before the price increases is difficult. Furthermore, data from the September scheduling point of view, is still at a relatively high yield. Finally the current price, Steel is still profitable, may not be limited production efforts. "
The medium and long term, reduce the inventory process is long. Shengzhi Cheng pointed out that the situation of 2008, steel cut from the July start, cut a larger effort, the whole process took about 2 to 3 months. The price recovery up to March 2009 is only happen after. 2009, although because of the economic stimulus plan, strong demand for steel products downstream, but the ability to quickly pull up steel prices stabilize or even questionable. Because before long, the main producing regions in North China construction steel demand to enter the off-season, and to be more sluggish when the steel demand.
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