On March 24, the domestic construction steel prices went up and down. The ex-factory price of common billet in Changli area rose 40 yuan to 4,600 yuan/ton. The market trading atmosphere improved, speculative demand increased, and transactions throughout the day were significantly better than the previous day.
On the 24th, the black futures market mainly rose, and only the main coking coal fell. The main closing price of snails was 4816, up 2.12%, and closed above the 5-day moving average. DIF and DEA overlap. The three-line RSI indicator is located at 60-64, running between the upper and middle tracks of the Bollinger Band.
Construction steel: On March 24, the average price of 20mm grade 3 rebar in 31 major cities across the country was 4,764 yuan/ton, down by 7 yuan/ton from the previous trading day. Early morning futures fluctuated at a low level. In the morning, the price of construction steel in most areas fell slightly in the morning, and some were temporarily stable. In the afternoon, as futures rebounded sharply, steel billets rose, and some areas of the spot market, such as East China resources, saw an increase. With the sharp rebound in futures, the market's pessimism has been restored, and demand has gradually increased. It is expected that construction steel prices may fluctuate strongly on March 25.
Hot-rolled coils: On March 24, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5,088 yuan/ton, an increase of 3 yuan/ton from the previous trading day. The spot market's early quotations were temporarily stable, low-level transactions were good, and speculative buying appeared. In the afternoon, as the market strengthened, the market spot quotations rose, but the increase was not large, and the transaction was weak after the increase. The current disk is stronger than the spot, and the price continues to be high. After the spot terminal purchase is slightly weak, but the current inventory decline is still acceptable, the production limit in North China continues, and a certain amount of supply is compressed, resulting in short-term ups and downs that are difficult to make a major breakthrough. The contradiction is still accumulating. It is expected to be hot rolled on March 25 The coil price may fluctuate in the range.
Cold rolled coil: On March 24, the average price of 1.0mm cold coil in 24 major cities across the country was 5714 yuan/ton, down 5 yuan/ton from the previous trading day. Judging from the feedback from various markets, the current prices are at a relatively high level, and the downstream has a low acceptance of high-priced resources. They mainly purchase on-demand, and there is no significant increase in demand. It is expected that domestic cold-rolled prices will fluctuate mainly on March 25.
On the one hand, due to the impact of Tangshan's production restrictions, steel production did not increase but declined in mid-March. The fundamentals of supply and demand continued to improve, pushing the center of gravity of steel prices upward. On the other hand, the futures market has always been in a wide range of fluctuations, and the downstream has a low acceptance of high prices. After the sharp rise in steel prices on Monday, some merchants recently chose to make small profits for shipments. In the short term, the price of steel fluctuates frequently, and it is difficult to make a significant breakthrough. Beware of the risk of chasing up or down.
