irishpokerrules| Shagang raised the price of scrap steel by 50 yuan: the black system has increased significantly, and steel prices are expected to fluctuate strongly tomorrow

News summary

Supported by macro policiesirishpokerrules, long capital in the steel market increased, and black prices increased significantly. The price of scrap steel at Shagang rose by 50 yuan/ton, and rebar, hot coils, medium plates, etc. all showed a strong trend. It is expected that steel prices will continue to fluctuate strongly tomorrow, with an increase of 10-30 yuan.

Newsletter text

Boosted by market sentiment, the steel market is expected to continue to operate strongly

[The market continues to follow the logic of expectations. Driven by favorable macro policies, the increase in holdings of long funds has pushed up, resulting in a significant increase in the black system. At present, the contradiction between market fundamentals is not large for the time being, and the trend of the strong trend line has not changed.]

With favorable policies and cost support, rebar and hot coils maintain a strong trend

Demand for rebar has gradually entered the off-season, with better short-term performance than expected, smoother de-warehousing, relatively optimistic market sentiment, and strong cost support. It is expected that rebar will operate in a strong shock tomorrow.

Hot coil output rebounded slightly. As macro policies continue to be warmer, expectations for interest rate cuts have increased, and cost support has increased. Hot coils are expected to operate stronger tomorrow.

Due to various factors, the prices of medium plate and strip steel fluctuated and increased

The mid-board market is driven by macro and cost, and the mid-board is expected to be more volatile tomorrow.

The strip steel market has benefited from the release of macro favorable policies, maintaining the overall trend of dewarehousing, and the supply and demand structure has improved slightly. It is expected that the strip steel will operate strongly tomorrow.

Raw material prices fluctuate, and billet and iron ore markets are expected to improve

The billet market is relatively supportive due to macro expectations and is expected to operate strongly tomorrow.

The iron ore market trend is strong, and spot prices may follow suit. It is expected that mineral prices will fluctuate strongly tomorrow.

Market confidence increases, and scrap steel and pig iron show different trends

The steel scrap market still has resilience, and it is expected that the steel scrap will operate strongly tomorrow.

The demand in the pig iron market is sluggish, and merchants are pessimistic. It is expected that pig iron will run steadily and moderately downward tomorrow.

Strategic recommendation: Steel traders need to seize market opportunities and rationally allocate resources

Against the background of rebound in market sentiment and cost support, steel prices still have upward momentum in the short term. Steel traders are recommended to carry out reasonable resource allocation and risk management based on their own circumstances.