The global steel industry has bottomed out
Fluctuations in futures this week, the largest iron ore and steel, both fell. Iron ore, the main opening 627 yuan / ton, the closing price of 585 / ton, the settlement price drop of 6.85%. Main rebar opened at 2943 yuan / ton, the highest price is this week, followed by tinplate steel all the way down, down to 2826 yuan / ton, closing to close at 2834 yuan / ton, up 3.7% Zoudie; due to the continuous decline, in part short profits, turnover for the whole week a record 20,313,000 hand, the total increase of 423,000 positions last week hand.
China International Futures (Guangzhou) Ling Xiaohui said: macroeconomic recovery is slow, the steel market pressure to run, steel pressure on raw materials is an ongoing process, the iron ore market outlook remained down market, keep short ideas. Steel fundamentals similar: Due to the spot market prone to buy or not buy up the phenomenon continued lower steel prices will affect the end-user purchases; although next week there will be a technical rebound in steel prices, the operation still recommend holding short ideas, empty one can continue to hold above the average pressure concern.
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