At the close on April 11th, steel rebar futures fell 158 points, or 3.14%, led by short-term disk shorts; hot coil futures fell 159 points, or 3.06%. The spot price in the market fell synchronously, and the decline in the spot was smaller than that in the futures, but the pressure gradually increased.
In the early stage, the market has always been keen to hype strong expectations. However, as the peak season continues to move backwards, as the inventory pressure continues to rise, the demand has been less than expected, and the traders’ mentality has begun to diverge. As of this Monday, the disk accelerated to decline, driving the spot price downward.
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The pressure on the economy has also led to the delay in demand being able to fulfill expectations. In the first quarter, domestic steel demand swayed back and forth. Although various favorable policies were introduced, it still did not fundamentally stimulate the development of demand growth.
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For the spot, the basic weak situation is reflected again. Judging from the current trend of the current period, it is obvious that the funds on the disk have no intention to hype, and the downward trend has now formed. Even if the staged support level exerts force to form a rebound, but in the case that the overall demand expectation is difficult to fulfill, the spot price stops falling and pulls up. is very difficult.
On the whole, the data during the week is pessimistic, and even if there is a short-term rebound, it is treated with a high-altitude idea.
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