Tomorrow's Forecast
Affected by the news of the successful signing of (RCEP), the positive macro outlook has boosted the enthusiasm of downstream market inquiries, driven by the rebound in cost prices. However, the actual transaction is cautious, with merchants relying mainly on price fixing and wait-and-see, and the overall mood is moderate. Against the backdrop of high raw material prices, steel mill prices are strong, short-term demand follow-up is limited, but considering cost support, low inventory pressure is low. It is expected that steel prices will stabilize and individual increases will be adjusted for operation tomorrow.
Spot market
Construction Steel: Rising
Encouraged by the news of the successful signing of the Regional Comprehensive Economic Partnership Agreement (RCEP), port shipping and other performances have been strong, and the futures market has started to rise, driving the market operating atmosphere. The transaction is fair, and merchants are actively shipping. However, merchants are cautious about demand follow-up expectations, and under cost support, merchants take advantage of the trend to keep their inventory thinking unchanged. Future market wait-and-see is the main trend. It is expected that the market price of building materials will rise steadily and adjust in the future.
Hot rolled plate and coil: up
The futures volume has significantly increased. Currently, the market activity is not high, and the terminal is ready to use and purchase the goods. The transaction is mainly based on demand, which has dragged down the sentiment of the spot market. However, Chongqing Iron and Steel Group Co., Ltd. has issued a plate ordering price policy in December, and the hot rolled plate coil has been increased by 170 yuan/ton. In the later stage, the market price downward space is limited, and it is expected that the hot rolled price will be adjusted upward due to fluctuations tomorrow.
Medium and heavy plate: price increase
The broad rise in futures prices, coupled with a cost increase of 20 to 3580 yuan/ton, has driven sentiment in the spot market. Merchants have raised their prices by 60 yuan for shipment, but after the increase, demand has been cautious in purchasing. Merchants are cautious in waiting and watching, and there are signs of a decline in intraday resources. It is expected that the prices of medium and heavy plates will rise and adjust steadily tomorrow.
