The global steel industry has bottomed out
According to monitoring, September 12 HRC index 112.01 points, down 0.48 percent over the previous day. 1501 opened lower on higher volume, rose 0.88 percent to close 2968. Hot-rolled market continued to fall on the 12th, Shanghai, Hangzhou, Nanjing, Hefei, Guangzhou, Changsha, Wuhan, Zhengzhou, Beijing, Handan, Taiyuan, Shenyang, Chongqing, Chengdu, Kunming and Xi’an market fell 10-50 yuan / ton range. On the 12th, 24 markets nationwide 3.0mm hot rolled coil price 3263 yuan / ton, compared with the previous trading day down 13 yuan / ton.
Feedback from the market point of view, last Friday the price of hot rolled futures market rebounded slightly, spot market shipments of low-cost active, but not many mainstream price volume, the volume of individual businesses to individual specifications Cape resources priced at 2940 yuan / ton. The amount of new stock arriving on the market, the recent pressure on the stock in Shanghai increased slightly hot rolled, high shipping business enthusiasm, do not rule out low-cost resources still exist. Insiders said the recent decline in the prices of hot rolled Shanghai area is large, resource price advantage has been reflected, traders are less likely to continue deep down, but if the turnover lackluster, do not rule out the mainstream prices continue to weaken, prices or consolidation in early trading Monday wait and see. Last week, Beijing, Tianjin and the general decline in the larger area of plate margin, the last trading day of decline slowed. Early mainly affected billets, of snails, steel prices fell, the market price of natural with the fall, the market turnover remained sluggish. Inventory, last Friday Tianjin hot-rolled coil inventory for 168,000 tons, 02,000 tons less than last week, is expected this week, Beijing, Tianjin and regional market prices weak consolidation. Given the recent decline in the prices of hot rolled coil mainstream too large, expected this week, the market price downside would be narrowed.
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