Opening in July, hot-rolled spot market does not appear the slightest improvement in the continued downturn, originally the beginning of a wait-and-see stage is omitted, into a weak finishing stage.
Major markets, in addition to the Tianjin market due to pre-oversold somewhat stabilized, Shanghai, and music from the trend of not very optimistic.
At present, the market demand remains in the doldrums a day after the pre-steady performance, the forward price into the down phase. Boosted by news of two date Lo 1201 High opened in 4100, but after it opened higher front-line fall near the 11 o'clock stabilized signs of stabilization, while the midday of snails remains stabilized in the low, press the before reported 4046, or 0.47 percent. Fortunately, today the bulk thermal volume performance is still good, the current is almost flat.
In Shanghai, the early offer today to continue to maintain a weak pattern, Shagang announced on the 1st of July hot-rolled price adjustment policy in July, the nominal price down 80 yuan / ton, the June price, make up 50 yuan / ton. The price adjustment for the current downturn in the market to give a certain degree of pressure, so today, even in the tray forward price opened higher, but the price increase of market business confidence is still insufficient.
Shanghai market varieties varieties offer currently on the market some of the pressure is very confusing, such as for SPHC, despite the recent stock market merchants offer is still maintained at 4160-4180 yuan / ton in the vicinity, but the individual business-to-end offer is reduced to 4100 - 4120 yuan / ton. Carbon series resources offer relatively more stable, with only 9.75 specifications under the impact of resource pressure, offer low and the mainstream specification 20-30 yuan / ton.
Music poor start from the market, high market prices gradually move closer to the low. According to the feedback of the local market, weekend market transactions weak downstream inquiry phone much, the actual turnover is limited. Affected, some traders offer today to continue down 10 yuan / ton, the gradual increase in the low resources, high turnover of fatigue.
The two major markets vulnerable to shock, but the Tianjin market was oversold in the early stage signs of stabilization. Sharp drop in the price of last Friday, the Tianjin market price has to scale new lows for the year, the current low of close to 3900 yuan / ton. Part of the business that prices continue to fall space is limited, today traders nor too cheap will ship. However, transactions, today watching the market atmosphere is very thick, sluggish demand still.
Overall, the beginning of this month, the market continued on the end of the downturn in prices, demand can not be improved, traders out of the question on the recent market confidence, the business-to-July market basically does not hope, insipid market may run through full month of July.
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