Steel spot futures prices have risen synchronously and low market transactions have improved

On the first trading day after the festival on May 6, the overall performance of the commodity market was pretty good. Affected by the European and American countries' successive closure of the "closing the city" policy, the domestic prevention and control level has been reduced to the second level, and the normalization of resumption of production and production has restored the market confidence. Crude oil took the lead in reaching the daily limit, the stock market closed higher, futures continued to rebound, and the FTSE China A50 index futures once expanded to 3% during the day.

Steel futures continued to rebound upwards following the pre-holiday rally. Coking coal came out of a fierce market, with an increase of nearly 2%, and other increases of more than 1%. Hot coils and iron ore basically remained around 3200 yuan and 610 yuan. Snail once again entered the vicinity of the 3400 yuan integer mark, and the highest intraday break to 3406 yuan, but then did not break upward to maintain the sideways trend. Mainstream positions have increased and shorted. In terms of capital flow, except for iron ore that attracts 250 million gold, the rest is mainly outflows, and the blood loss of double coke is more than 400 million yuan.

The spot prices of steel products have risen synchronously, and the low market turnover is still good. Terminals with sufficient stocks before the holiday and the enthusiasm for procurement of steel trading companies are limited. There are also some demand for replenishment after the holiday. Procurement on demand. At present, there are still differences in the mentality of the steel market, mainly due to the uncertainty of supply and demand in the later period, and the wait-and-see mood has always been lingering.

The steel price itself still depends on the rhythm of demand release and de-stocking. If the de-stocking still maintains a fast speed, the period will still rebound. Otherwise, the momentum is not strong, and it is more likely to turn around. Situation Steel prices are unlikely to rise unilaterally, and the volatile market of repeated trials may dominate.