Focus On May 8th - Black Has Risen Sharply, And The Spot Price Has Followed Up

[Focus on May 8th - black has risen sharply, and the spot price has followed up]
Black rose sharply today. Closing: The 10 contract thread rose 4.16%, the 10 contract hot coil rose 5.07%, the 09 contract iron ore rose 5.02%, and the 09 contract coke rose 6.32%.
Spot steel prices rose. The ex-factory price of some billet resources in Lulong, Qinhuangdao has increased by 40 yuan; the ex-factory price of strip steel in Tangshan has increased by 80 yuan/ton; , Beijing rose 60 yuan/ton, Hangzhou rose 50 yuan/ton.
Today, Lian Tie fell slightly in the morning and then pulled up. Traders quoted aggressively and speculative demand increased. Steel companies mainly needed to purchase, and the overall transaction was acceptable. The coke market operates weakly and steadily, and the spot supply of coke is still in a loose state. Due to the overall prudent downstream purchases, the pressure on coke accumulation in coke enterprises continues to increase, and the pessimistic attitude is still strong. The price of scrap steel is relatively strong. At present, the resources in the scrap steel market are tight, and traders operate cautiously. The arrival of scrap steel from steel mills is not good.
Today's black futures rose sharply. With the end of the "5.1" holiday, terminal purchases and trade demand have resumed and released, especially the sharp rebound in futures, which has driven the growth of speculative demand, and the overall market transactions are generally acceptable. It is expected that the spot steel market in tomorrow will be adjusted steadily.