On June 29, the domestic steel market mainly rose, and the ex-factory price of Tangshan Qian’an billet rose 30 to 4,040 yuan/ton. In terms of transactions, speculative demand was released, and futures and spot traders were active in picking up goods.
On the 29th, the closing price of the main contract of the futures snail was 4360, up 1.51%, the DIF was close to the DEA, and the RSI third-line indicator was located at 43-54, running between the lower rail and the middle rail of the Bollinger Band.
According to the monitoring of 237 traders, the daily turnover of building materials on Monday and Tuesday was 173,000 tons and 191,000 tons respectively, higher than the average level of 155,000 tons last Sunday. On the one hand, as steel mills continue to expand the scope of maintenance, black futures have strengthened, and billets have continued to rise, all boosting market sentiment. Recently, speculative demand has been released, and terminal purchases have increased. On the other hand, due to the slow recovery of the real estate market, some industrial enterprises still have gaps in reaching full production capacity, as well as factors such as high temperature and rainy weather, there are still doubts about the sustainability of steel demand. On the whole, the market sentiment is optimistic and cautious, and steel prices show strong shocks.
Post time: Jun-30-2022