In the continued Powei crash, steel futures fade signs of stabilization in the production and weak demand game. 26, the Shanghai Futures Exchange rebar futures contract closed out the three yang "continue to be steady at above 3700 yuan. Analysts pointed out that due to recent steel continuous production, post-market support may appear gradually, but the upstream iron ore Budie whether the support weakened remains to be seen.
The deadline to close on the 26th, the Shanghai Futures Exchange, the rebar futures contract closed at 3719 yuan per ton, up 0.16 percent over the previous trading day slightly, picked up three consecutive trading days above 3700 yuan. But the day after a severe shock, showing the differences in the market is still large.
Mostly continued to fall in the spot market, the purchase of the main detection. Beijing and Tianjin, three rebar were down 50 yuan and 30 yuan to 3750 yuan per ton and 3740 yuan, the offer of individual regions began to climb, of which about 3840 yuan Shanghai three rebar offer basically the same as the previous day .
In fact, steel prices since mid-June has been a continuous decline in intraday trading in below the decline accelerated after the 4000 yuan integer points, fell to around 3650 yuan. This trend is in stark contrast not only with agricultural products rose sharply, and the trend is part of the industrial products such as copper, aluminum products also very different.
Analysts pointed out that the steel market is more affected by the impact of domestic macro trends, due to economic slowdown and weak downstream demand, while the middlemen was "panic" sell-off accelerated the market's bottom. Stabilization of posture in the first half of the industrial added value of enterprises above designated size slow significantly, international agencies also believe that China's economy is a soft landing, but there are still downside risks in the international market is still pessimistic case, the steel market is still to maintain a weak state. Huatai Great Wall analyst Takashi green think.
It is worth noting that the decline in steel prices, the risk of upstream iron ore Budie are gathering. "Pre-cut steel is mainly rolled production line can really ease the supply, still concerned about the intensity of follow-up production costs on the steel support is also waning, iron ore prices dropped 11 percent from the end of June about the latter part of the market downstream is still room. "East Asian futures analysts pointed out.
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