Look at today's market: steel prices continued yesterday's decline today. Affected by the news, futures left weak, weak market confidence. After yesterday's 20 steel quote fell, today's quote fell more steel mills, fell between 20 and 60 range. On the current market, our views are clearly bearish. As the saying goes, "listen only if you listen only if you listen only if you listen," today we interviewed steel traders at the front line of sales and listened to their views.
Part of the iron factory inventory is increasing, coupled with the downstream and traders are still in the hands of stock digestion, on the iron price upward to restrain, but raw material prices, costs increased significantly, and some steel mills, foundries have stock demand before the festival, iron factory intention to increase prices, is expected to pig iron stable in strong operation next week.
A trader said: the market is so bad, cut the price of shipment ah, hand so much. The price first hold bai, anyway don't rush shipment, I think it will rise. We do not know how to do, anyway goods are not much, follow the mainstream of the market to go.
This morning, the quotation of 304 stabilizes, and the transaction is still accompanied by concession. The base price of yongjin spot with tax is 14200-14,300 yuan/ton, and the futures of January/February 2019 are 14100-14,200 yuan/ton. The February futures of shangke are quoted as 14000-14100 yuan/ton; And the mainstream quotation of hongwang and chengde market is 13900-14000 yuan/ton; Today's deal is relatively positive.
The main tone of the market today is stable, even if the march futures come out, we are not surprised. After all, there was a lot of weirdness about the opening of the global market in 2019 yesterday. By contrast, audiences are more immune, more responsive to the market, and more discriminating on information, so uncertainty can become certainty.