Steel prices have generally risen, and attention will be paid to sustainability in the later period

The market opened on March 28th, and the domestic steel market futures are now rising simultaneously.

Since the weekend night session, the black line has gapped up across the board, and the daily session has continued to rise. The far month is stronger than the near month. Iron ore futures have the highest increase, violently pulling up more than 4%, successfully breaking through the previous high, and the highest is approaching the 900 yuan mark. The intraday fluctuation of bifocals in recent months is obvious, and the price of hot rolls follows the futures disk. Affected by the weak terminal demand and epidemic prevention and control factors, the regional differences in the hot coil market have not yet been opened, and the hot coil resources are mostly concentrated in the flow of various regions.

The spot market price rose in a range of tens of yuan, and some areas chased up, with the highest cumulative increase of more than 100 yuan. The market trading atmosphere was good, and futures and spot transactions dominated, and terminal demand purchases did not see heavy volume.

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At present, the market’s rise has little to do with fundamentals, but more on macroeconomic policy expectations and resumption expectations. The latest domestic production data came out last week, and the output of steel mills increased. As the epidemic eased later, steel mills resumed production The rhythm of production will accelerate simultaneously, so from the perspective of market performance, iron ore futures have the largest increase, and the market’s expectations for the far month are significantly stronger than the near month.

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In addition, judging from the rhythm and pace of market operation, last week after the transaction was completed, the market once stepped back and confirmed, and this strong rebound was the force after confirmation.

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It can be seen that far-month futures such as thread and iron ore have all broken through the stage highs. In the short term, the steel market still has time and space to rise.