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Steel Market Review

2016-1-31 9:44:05 Font: Large In Small
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January 29th cold index 63.34 points higher than the previous year. As the Spring Festival approaching, both ends of the supply and demand after another holiday, market activity is not high. Resources, far as I know, the holiday market pressure on resources than in previous years has narrowed, the market is expected to only incremental resources 3.5 million tons, compared with 5-6 million tonnes in previous years have significantly decreased. In addition, continued strong automotive steel orders status, S & P market volume will remain low delivery volume, the market price formation strong support. On the whole, the market will continue to maintain the current state of maintenance of stability, while the Festival or fewer resources, the message of speculation, under the action of a portfolio of futures and other strong, stable and firmer to show good performance. 29 of the 24 major markets Cape 1.0mm cold rolled coils prices reported 2758 yuan / ton, unchanged from the previous day.

January 29 galvanized index 57.46 points higher than the previous year. Morning market to smooth the main, by the rainy weather, coupled with rich atmosphere of the Spring Festival, traders have a holiday, the overall turnover continued to decline, the current large daily turnover of less than tons. Traders said that the current resources and arrive before the holiday were significantly less than normal, business inventories remain at low level or less, and the next week the market will continue to digest the inventory-based. My opinion, the stable operation of the main business before the holiday, turnover will continue Qudan. 29, the country's 14 major markets Cape 1.0mm galvanized coil prices reported 2936 yuan / ton, unchanged from the previous day.


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