Chinese steel prices fluctuate slightly

This week (6.15-6.22) domestic steel prices fluctuated weaker. Among them, the North China market partially compensated for the decline, the East China market fluctuated, and the South China region continued to decline. In this issue, the West Bengal Steel Index fell slightly, and the cost index rose slightly, indicating that the profit margin of steel mills was compressed; steel futures generally resisted the decline, which boosted confidence in the spot market.

In terms of futures, the prices of black commodity commodities in this period are slightly differentiated: iron ore is loosened at a high level, coke is strongly fluctuated, hot coils continue to rise, and rebar volatility is intensified. Among them, the hot coil 2010 contract closed at 3651 yuan on Friday night, up 68 yuan/ton from last Friday night; the rebar RB2010 contract closed at 3641 yuan/ton on Friday night, up 13 yuan from last Friday night /Ton. From the perspective of the whole week, the raw material end (iron ore and coke) is actively fine-tuned, and the finished material end (thread and hot coil) is easy to rise and fall, and the leading role of the raw material end of the futures market has weakened.

The domestic steel index fell slightly this week, and market prices ran simultaneously: on Monday, the test rose, on Tuesday, it took the initiative to fall, on Wednesday, it was steadily lowered, and on Thursday it was partially weaker, and it went down on Friday. The current status of the Shanghai market is as follows: social stocks are slowly digested, and merchants are not willing to hoard goods; terminal demand has dropped significantly, and small and medium-sized steel mills have followed the market; raw material prices have not dropped, and the futures market continues to resist. The current market sentiment is relatively rational, and the steel index is expected to fluctuate within the next week.