Futures continue to shuffle the trend of steel is quite tangled

On Friday, futures stood firm at the current key support level, forming a clear upward momentum. Although the transaction in the spot market is not good, traders intend to support the price. Offers in the Tangshan area loosened over the weekend, increasing the wait-and-see mood on Monday. Although it continued to fluctuate at a high level after the opening, it weakened for a while, which increased the wait-and-see sentiment in the spot market, and the overall transaction was still unsatisfactory.
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At present, the main thorn in the market is the start-up of demand. In the face of the resumption of work and production in Shanghai, the market reaction is generally a bit tepid. The mentality of traders is more entangled. On the one hand, they intend to use the resumption of work and production to drive the price fluctuations upward, and on the other hand, they have great doubts about the strength of demand activation. From the perspective of quotations, it is intentional to explore the rise, but the momentum is insufficient.
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In the face of the continuous game between weak reality and strong expectations, the trend of the disk is also quite tangled. The intraday positions continued to decline, and some longs took profit and left the market. During the week, we will pay attention to whether there is a stocking mood in the market before the Dragon Boat Festival. If there is little change in the demand side, we will continue to fluctuate during the week.
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