Recently, the market news has entered a “quiet period”, more passive fluctuations around the epidemic and the Russian-Ukrainian war, the demand side has weakened slightly, and short-term market fluctuations are likely to weaken, but the cost is still supported and demand expectations have not been significantly broken , there will still be differences in the operation between varieties.
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The spot market price rose slightly, and some areas fell slightly to facilitate transactions. There were a small amount of shipments at low prices in Beijing and Tianjin, and the trading in Tangshan was basically stagnant. The atmosphere is basically the same as yesterday, with reduced terminal and speculative demand.
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At the opening of the market today, the hot coil spot was affected by higher futures prices in early trading, and traders’ quotations generally rose. However, after midday, due to the weakening of the futures disk and weak demand, the spot quotations showed a certain decline. On the whole, the outbreak of the epidemic at multiple points restricts the weak demand, but the cost side brings certain support to the hot coil, and traders have a certain sentiment of price support. Today, the purchase and sale of the hot coil market is relatively stalemate. As for the later view, there is no favorable support from the market supply and demand for the time being. The contradictions in the hot coil market are mostly concentrated in strong expectations and weak reality.
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