Market Condition: the steel market downtrend slow down.
1. Building steel
Yesterday, the market price of construction steel was mixed. The market prices in Hebei and Shandong slightly strengthening, and the areas in Jiangsu and Zhejiang firstly rose and then weakened. In the 48 major construction steel mainstream cities across the country monitored by CAMELSTEEL, 12 rose, 19 steady and 17 fell. At present, many steel mills in Northwest, Shanxi and Northeast China have already made a winter storage policy.
Traders started to prepare for winter storage and other areas were cautiously wait and see. Futures dulled the narrow range today and played a certain support for the market mentality. Comprehensive analysis, the current market is intertwined, the market wait and see atmosphere become stronger. It is predicted that the market is expected to maintain a narrow correction in short-term.
2. Sheet material
Yesterday, the overall coil market slightly stopped decline and trended to stabilized, but the situation is not optimistic. Seen from different products, cold-rolled base stock was mainly stable, the prices of Tianjin civilian galvanized sheet remained stable, but the deal performance is ordinary. Shandong plate market trended to be weak from steady condition, and the turnover is general.
North China market also trended to be weak from steady condition, individual market firstly rose and then dropped, the market shipping had some improvement. In the coating and raw materials aspect, Shandong area trended to be stable from weak condition, but the bargaining is general. East China rose slightly, and the turnover slowed down in the afternoon. Basic specifications in southern China rose slightly, other specifications was out of stock.
Coil and plate market is expected to remain weak in short-term, the probability of a sharp adjustment is small. The leading market or continue to have profits space.
Today, the domestic billet market improved than yesterday, billet resources spot has a turnover phenomenon. In the aspect of downstream finished products, small strip has a weak transaction form after rising. And later, the prices fell, then the transaction has increased. Prices of proximate matter declined, the overall turnover is general. In the short term, the billet price may still mainly be low and shock.