What Causes A Steel Prices Keep Moving Lower

What Causes A Steel Prices Keep Moving Lower

Date:Nov 22, 2018

Steel prices have been falling recently, according to the Jin Lianchuang data, last week, the National construction steel market price weakness intensified.Futures are falling, the spot market atmosphere is pessimistic, the deal is obviously cold.Although there are still environmental production restrictions news, inventory also continued to decline, but the demand side gradually shrinking, merchants to the late trend of panic, and some no inventory pressure merchants to sing empty, so that low purchase, resulting in a sharp fall in market prices.


On the inventory side, the data show that the national stock of construction steel continued to decline in the current period, with a total of 3.2327 million tons of rebar, a decrease of 104600 tons from the previous period, and a total of 1.3561 million tons of wire and disk, an increase of 32,000 tons over the previous period.This issue of the national construction steel market price as a whole lower.As the weak futures are not changed, the recent many rainy days, poor demand, the overall transaction offset slump.Although the steel mill production restrictions guaranteed, the overall supply end pressure is not big, inventory continues to decline.


What causes a Steel prices keep moving lower


Taken together, Zhang Jinping said, because there is no particularly good news in the market, futures weakness does not change, and the current price difference is large, the spot market still has room to fill down, but due to the recent decline in large, continue to fall space or narrow.This week, the price of construction steel is expected to be volatile, or the occurrence of frequent ups and downs, overall or weak, the reference decline of about 50 yuan/ton.(Source: China Securities News • Sino-CERT Network)


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