Ferrous metal may remain in decline

When analyzing yesterday, it was pointed out that although there are signs of a rebound in the current disk, the rebound momentum is insufficient. Regarding the high inflation news released by the Federal Reserve on Wednesday night, the disk quickly hit the 3800 line (take rebar futures as an example), and then the rebound logic after the bad cash was carried out, but from the perspective of the driving force of the disk, the short position lightening led the disk to rise, and the long hair The power is obviously insufficient. Although the spot market intends to hold steady and wait and see, according to the market, there is currently insufficient motivation for bottom-hunting, and the wait-and-see mood is strong.
Today’s futures fluctuated at a low level, and it was difficult to form an effective boost, but for the time being, the decline slowed down slightly, and the spot price continued to fall.
(To learn more about the impact of specific steel products, such as Stainless Steel Coil Price, you can feel free to contact us)
Although there is continuous news on the supply side, from the data comparison, the continued demand is sluggish, and the output of steel mills continues to grow. Even if there is a reduction, it has not reached the expected value, increasing market risks. Therefore, in the short term, it is still necessary to pay attention to the implementation and implementation of the production reduction efforts of steel mills.
(If you want to know more about the industry news on Stainless Steel Sheet Coil, you can contact us at any time)

In the face of a high-pressure environment, the policy side has not relaxed. On the morning of July 14, when the National Development and Reform Commission held a media briefing on the economic situation in the first half of the year, it said that various policies to stabilize the economy were further implemented and effective, and the economy is expected to continue to maintain the momentum of recovery in the second half of the year.
(If you want to get the price of specific steel products, such as Stainless Steel Coil Factory, you can contact us for quotation at any time)
In the short term, the upward resistance of the disk is relatively large, and it still has the basis for a volatile decline in a short period of time. It is recommended to be cautious on the bottom of the disk, as spot sales are more difficult, and it is not recommended to enter the market at the bottom; taking rebar futures as an example, the downward trend of shocks remains unchanged, and the next support point is still around 3630.