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On the 26th, black futures run weakly, domestic steel prices are stable and fall

Oct 27,2020  Steel Knowledge.

On Monday, the national construction steel transaction volume monitoring data showed that the transaction increased slightly. Today's iron ore futures fell sharply, and the overall black series fluctuated at a low level. In the morning, the prices of construction steel products in most areas of the country fell partially, and the overall market performance was average. Specifically, the market transactions in the northern region increased slightly today. Due to the tight construction time, there is a certain demand for stocking downstream. The sales volume in the southern market decreased slightly. Due to the downward fluctuation of the disk, the downstream purchasing sentiment was strong. At present, the market is gradually entering the stage of catching up with the construction period. Although there is certain demand in the downstream, considering the pressure of fund collection at the end of the year, downstream terminals have a low acceptance of high prices. In addition, the downward trend in the future affects the market mentality, and the market price is slightly profitable.

Black futures were running weakly in early trading today, and domestic steel prices fell slightly in the morning. From the perspective of transactions, speculative demand in the market is sluggish, and downstream procurement demand is average. In terms of resources, the current market inventory continues to digest, and the overall inventory pressure has decreased. At present, the downstream demand is still resilient, and the futures market affects the market mentality. In summary, it is expected that domestic construction steel prices may maintain a narrow range of fluctuations in the short term.

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