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Reasons for the rise in steel prices

2019-10-24 16:19:07
It is understood that this week, the overall decline in steel prices, the futures season fell after the fall, affecting the spot transaction sentiment, most worried about the post-season production and inventory pressure, the steel plate market offer is relaxed, the spot price is weak. In addition, urban air quality remediation factors, limited production to strengthen Tangshan 29 steel enterprises to limit production by 50%, the transaction warmed up.
And from the post-fake trading volume statistics, it seems that the trading volume on the day is still ok, and then slightly decreased. Reflecting the strong wait-and-see mood in the steel plate market, with the fall in futures, the spot price of steel plate has declined, and the volume of low-priced shipments has shown positive growth.
Next is the hot rolled coil market. This week, the total domestic social inventory of hot rolling was 2,539,400 tons, an increase of 5.98% over the previous week, an increase of 6.51% over the same period of last month and an increase of 6.05% over the same period last year. By region, stocks in various regions increased slightly this week. There is also a plate market. The total inventory of plate in the country this week was 1.0156 million tons, down 4.98% from 1.0688 million tons in the same period of last year and down 5.61% from the previous month.
In general, entering the October season demand has certain support for steel plate prices, but due to the current steel plate market's expectations for the production speed of the later steel mills, the market is more cautious about the sustainability of demand. However, affected by the interests of Sino-US negotiations, the market will be revitalized. It is expected to operate at the domestic steel plate market price and dynamic momentum next week.
 
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