China Steel NET: opening soon dropped below 4,100 integer point yesterday, however 20th averages around supporting a strong, steel-line space is limited, however short KDJ index high adhesion on a downward trend, displays the long attack on fatigue, short-term shocks to narrow.
Hot coil prices steadily falling yesterday, according to the China Steel NET Center monitoring data show, on June 12, in 24 major markets: 4,302 3.0mm volumes reported an average price per ton, 3 Yuan per ton lower than last trading day; 24 major markets throughout the country reported an average price of $ 4,198 4.75mm volume/tonnes, 1 Yuan per ton lower than last trading day.
Domestic news, JP Morgan recently published the latest report, adjust the 2012, China's annual economic growth rate fell to 7.7%. On May 11, the Chinese economic growth estimates for this year which had reduced from 8.2% per cent, and the Chinese Government's growth target set at the beginning of 7.5%.
International message, 13th early this morning message, Spain bonds income rate Tuesday rose to history highest level, causes is credit ratings service institutions Hui reputation ratings forecast said, Spain Prime Minister Mariano-Mariano Rajoy (Mariano Rajoy) will cannot implementation budget deficit cut target, to raised has market about Spain banking by will received of 100 billion euro (about-in 124 billion $) assistance loan will insufficient to stability the country economic of concerns mood.
Steel Dynamics, yesterday afternoon in Tangshan steel falling 10 Yuan/ton, temporarily stable this morning, now $ 3,580 per ton of carbon 150 slab, rectangular slab 3,610 165 Yuan/ton, low-alloyed slab 3,700 Yuan/ton tax factory, Changli General billet cash taxes sent to 3,600 Yuan/ton, the nude for $ 3,420/tons.
Sold area, yesterday North hot volume price stability in the has rose, however needs downturn, businesses pull rose confidence insufficient, currently due to resources partial tight, businesses shipments wishes does not strong; in East China hot volume price overall stability, market wait-and-see mood strong, businesses operation cautious, but Baosteel cut July price policy Hou on market effect larger; due to recent needs, and sold situation are no clear changed, cause in the South market hot volume price stability, businesses shipments General, but recent Willow steel arrival increased, businesses quote slightly loose ; Long-term market vulnerable as a callback, combined with the July price introduced in Baosteel, confidence fell again yesterday hot coil prices steadily dropped in the Western region, market turnover remained relatively light, but market arrival of little businesses consume inventory and State of mind has improved, but wait-and-see atmosphere is still strong. Summing up the above, hot coil prices today are expected to narrow correction.
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