How do you view the overall rise in ferrous metal?

The increase in the steel market increased today, and the spot and futures rose simultaneously. At present, the increase of hot coils in many places has reached 60-100 yuan, the highest increase of threaded coils has reached about 70 yuan, and most of the increases range from 20-50 yuan. The increase of strip steel, medium plate, and profile products is significantly higher than yesterday. Driven by the overall rising atmosphere, speculative demand and terminal demand have recovered, the market sentiment has improved, and the transaction has also improved compared with yesterday. Except for Tangshan profiles and other varieties, the overall transaction has not yet reached a very prosperous level.
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Yesterday’s Politburo meeting brought positive news to the market. Steel futures opened higher last night, which has already shown that capital’s interpretation of the policy is bullish. The stock market and commodities strengthened at both ends, which is due to macro and policy factors at play. At least for now, the confidence of the market has been driven to a certain extent, and only then has the performance of today’s continuous rise in steel futures and spot prices.
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At present, under the favorable policy environment, the market’s confidence has recovered, and capital continues to choose to make upward efforts to continue to rise. The market drives the spot market, the market sentiment has been mobilized, and the number of bullish people has also increased. The market has reached a heating stage.
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The spot price has already increased significantly today. The next step is to see whether the transaction can support and consolidate the price after the increase. If the spot price rises to lay a solid foundation for the price increase, the market will not be easy to fall back. Internal policies and industrial conditions have gradually become clear, and basically everything that needs to be released has been released, and there is still an overseas Fed to raise interest rates. Judging from the manufacturing PMIs in Europe, Japan and other countries, the further decline has come, and the current round of interest rate resolutions in the United States and Europe has reached a very critical moment. If the tightening cycle is over, the overall situation will still be positive for the metals market.