Today's black futures fell sharply. The main hot volume of the 05 contract fell by 4.26%, the thread fell by 4.21%, the iron ore fell by 8.79%, and the coke fell by 5.41%. Steel spot prices weakened, Tangshan billet ex-works dropped by 50 yuan/ton, Tangshan strip steel mainstream ex-factory price dropped by 40-50 yuan/ton, Tangshan strip spot price index dropped by 90 yuan/ton, Tangshan section steel fell by 20-50 yuan/ton . The mainstream market prices of hot coils dropped by 150 yuan/ton in Shanghai, 160 yuan/ton in Lecong, and 70 yuan/ton in Tangshan. The mainstream market price of building materials dropped by 170 yuan/ton in Hangzhou, and 90-110 yuan/ton in Shanghai and Beijing. The spot price of iron ore dropped by RMB 60/ton, and market transactions were relatively small; the mainstream price of coke was stable, and leading coke companies in some regions rose by RMB 120/ton; the scrap steel market was weak in consolidation.
Today's steel spot market is affected by the collective decline in futures, and mainstream market prices have been lowered. Among them, building materials and coils have fallen significantly, and the market sentiment is pessimistic. There are obvious signs of weakening downstream demand, and the terminal is cautious in obtaining goods, mainly digesting its own inventory, and seasonal accumulation may accelerate. The price of raw materials and fuels has fallen and cost support has weakened. It is expected that the steel market will remain weak tomorrow.
