November 11 steel market price forecast

Rebar: On November 10, the average price of 20mm third-class rebar in 25 major cities in China was 4,119 yuan/ton, up 49 yuan/ton compared with the previous trading day.

Yesterday morning spiral shock weakened, the morning of domestic construction steel market prices continue to pull up, but the rise significantly narrow.

In the afternoon, as the period snail further weakened, the market wait-and-see mentality intensified, prices in some areas appear a little loose, merchants high cash, drop bags for a strong mood, the overall positive shipping mainly.

From the transaction point of view, due to the weak speculative demand in the market, coupled with a certain resistance to the high price of resources downstream, today's transaction is significantly slower than yesterday.

In general, the recent construction steel prices rise too fast, high prices of resources need time to digest, coupled with the weak market trading atmosphere, is expected to short - term construction steel prices or high consolidation operation.

Hot rolled coil: On November 10, the average price of 4.75mm hot rolled coil in 24 major cities in China was 4,048 yuan/ton, up 13 yuan/ton compared with the previous trading day.Black commodity futures market turbulence weakened yesterday, the spot market wait-and-see sentiment is stronger, merchants prices rose slightly, the overall general market transaction.In the afternoon, with the decline of the futures market, the market mentality is weakening, the price of some cities fell slightly, the market transaction gradually shrinking.At present, the market inventory is relatively low, coupled with the high cost of resources, which has a certain support for the price, but considering the recent price has risen significantly, merchants also have the need to profit shipping, in the transaction is not sustainable volume, the price increase is restrained. In summary, it is expected that today's hot rolled coil prices will fluctuate operation.

Imported ore:The imported iron ore market rose slightly on Nov. 10.Australian PB powder ore in Qingdao Port was quoted at 870 yuan/ton yesterday, up 10 yuan/ton from the previous trading day.62.5%PB block ore quoted 904 yuan/ton, compared to last trading day up 12 yuan/ton.