At the opening of the market on Jan, 19th, the domestic black system opened higher and moved higher, the night session gapped and opened higher, and the daily session was basically in a high level and sideways state.
Spot market prices have risen slightly. There are a small number of terminals and winter storage purchases in the extreme southern regions. Most areas continue to be on a semi-holiday situation. The market fluctuations are basically of little significance.
As of the close, the positions of black mainstream varieties have increased in both long and short positions, and the increase is slightly greater than the increase in short positions.
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In the short term, with the gradual release of good news before the holiday, the strength and space for continued upside may be relatively limited. There are still differences between long and short before and after the holiday. It cannot be ruled out that some varieties may experience high-level consolidation or even staged withdrawals. At present, the pressure on the varieties is slightly higher than that of other varieties.
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on Jan, 19th’s domestic coating prices are stable and rising. on Jan, 19th, the hot coil black futures are running at a high level, and the galvanized guide price of private steel mills is raised by 50-130 yuan. According to the feedback from traders, stimulated by the positive news, the futures and currents have doubled, the market mentality has improved, and some prices have risen slightly. The current ordering cost is relatively high, the recent traders’ willingness to replenish goods is generally not strong, and the overall market inventory is low. However, due to the impact of the epidemic in the north, transportation was hindered, and the inventory of private steel mills has accumulated. In terms of transactions, the overall trading atmosphere in the market is sluggish, and the transaction volume in areas outside the epidemic area is basically less than half of the normal level. On the whole, it is expected that the price of domestic coated coil will be mainly consolidated on Jan, 20th.
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