Steel prices "driving" at high speed, alert to short-term risk of callback
The current cycle of the thread is now oscillating and weak after a rapid rise early in the week. The sentiment of the current market is relatively high at the beginning of the week, mainly due to the favorable policy expectations of the two meetings of the environmental protection production restriction news of Tangshan and the continuous upward movement of steel mills ’costs, and the transaction performance is also good. The release of the government work report, the strong expectations at the beginning of this week have not been fully realized, and the current trend is weak and the atmosphere of spot trading has also turned cold.
This week's hot-spot prices are currently rising. Mainly affected by the news of Tangshan's environmental protection production restriction last weekend and the convening of the two sessions or the release of the two conferences, the current price of the hot coil in the early week quickly surged. But then the actual transaction situation of the terminal could not keep up with the rate of price increase, and as the futures weakened, the transaction further weakened. On Friday, under the influence of the unfavorable results of the two associations, both of them fell sharply, prompting the overall trend of this week to rise and fall.
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